Key Developments: Kinder Morgan Inc (KMI)
40.48USD
17 May 2013
$0.56 (+1.40%)
$39.92
$39.92
$40.48
$39.92
3,219,691
3,461,978
$40.48
$30.51
Latest Key Developments (Source: Significant Developments)
Kinder Morgan Inc Increases Quarterly Dividend to $0.38 Per Share
Kinder Morgan Inc announced that the board of directors increased the quarterly cash dividend to $0.38 per share ($1.52 annualized), which is payable on May 16, 2013, to shareholders of record as of April 29, 2013. This represents an increase of 19% from the first quarter 2012 cash dividend per share of $0.32 ($1.28 annualized) and is up from the fourth quarter 2012 dividend of $0.37 ($1.48 annualized) per share. Full Article
Royal Dutch Shell PLC and Kinder Morgan Inc's El Paso Pipeline Partners LP To Jointly Export LNG From United States-Reuters
Reuters reported that Royal Dutch Shell PLC said it will tie up with Kinder Morgan Inc to export liquefied natural gas (LNG) from a terminal near Savannah, Georgia. El Paso Pipeline Partners LP, a Kinder Morgan unit, and Shell will form a limited liability company to develop a natural gas liquefaction plant at Southern LNG Co LLC's existing terminal. El Paso Pipeline, through its affiliates, will own 51% of the entity and operate the facility, while Shell will own the rest. Full Article
Kinder Morgan Inc Announces President Change-Form 8-K
Kinder Morgan Inc reported in its Form 8-K that effective March 31, 2013, C. Park Shaper will resign from his position as President of Kinder Morgan Inc but will remain a member of Kinder Morgan Inc's Board of Directors. Steven J. Kean, currently Executive Vice President and Chief Operating Officer and a Director of Kinder Morgan Inc, will become President and Chief Operating Officer, effective March 31, 2013. Full Article
Kinder Morgan Inc Increases Quarterly Dividend To $0.37 Per Share
Kinder Morgan Inc announced that the board of directors increased the quarterly cash dividend to $0.37 per share ($1.48 annualized), which is payable on Feb. 15, 2013, to shareholders of record as of Jan. 31, 2013. Full Article
Kinder Morgan Inc Increases Quarterly Dividend to $0.36 Per Share
Kinder Morgan Inc announced that the Board of Directors increased the quarterly cash dividend to $0.36 per share ($1.44 annualized), which is payable on November 15, 2012, to shareholders of record as of Oct. 31, 2012. This represents a 20% increase over the third quarter 2011 cash distribution per unit of $0.30 ($1.20 annualized) and is up from the second quarter 2012 dividend of $0.35 ($1.40 annualized) per share. Full Article
Kinder Morgan Inc Announces Exercise of Underwriters’ Option to Purchase Additional Shares
Kinder Morgan Inc announced that the underwriters of its recently completed public offering of 58,000,000 common shares by selling stockholders have exercised in full their option to purchase an additional 8,700,000 common shares. Barclays and Deutsche Bank Securities acted as the underwriters for the offering. The exercise price for the additional common shares is $34.51 per share, the same as the price at which the 58,000,000 common shares were sold to the underwriters. All of the common shares being sold in this offering are being sold by the selling stockholders, which consist of investment funds affiliated with Goldman, Sachs & Co., The Carlyle Group and Riverstone Holdings LLC. Neither KMI nor KMI’s management is selling any common shares, and KMI will not receive any proceeds from the sale of shares by the selling stockholders. Full Article
Kinder Morgan Energy Partners To Purchase 100% Of Tennessee Gas Pipeline And 50% Of El Paso Natural Gas Pipeline From Kinder Morgan, Inc For Approximately $6.22 Billion
Kinder Morgan Energy Partners announced that it will acquire 100% of Tennessee Gas Pipeline (TGP) and a 50% interest in El Paso Natural Gas (EPNG) pipeline from Kinder Morgan, Inc. for approximately $6.22 billion, including about $1.8 billion in assumed debt at TGP and approximately $560 million of proportional debt at EPNG. The transaction, which is expected to close this month and be effective August 1, was approved by the independent members of the boards of directors of both KMI and Kinder Morgan Management, LLC following the receipt by each board of separate fairness opinions from different investment banks. The Company previously announced that KMI would offer to sell (drop down) these assets to KMP to more than replace cash flow from certain assets KMP is divesting pursuant to an agreement KMI reached with the Federal Trade Commission in order to complete the El Paso Corporation acquisition. KMP expects to complete the divestiture process during the third quarter of 2012. Full Article
Kinder Morgan Inc Announces Increases Quarterly Dividend To $0.35 Per Share
Kinder Morgan Inc announced that the board of directors increased the quarterly cash dividend to $0.35 per share ($1.40 annualized), which is payable on Aug.15, 2012, to shareholders of record as of July 31, 2012. This represents a 17% increase over the second quarter 2011 cash distribution per unit of $0.30 ($1.20 annualized) and is up 9% from the first quarter 2012 dividend of $0.32 ($1.28 annualized) per share. Full Article
Kinder Morgan Inc Prices Secondary Sale Of Common Stock
Kinder Morgan Inc announced that it has priced a public offering of its common stock. The size of the offering is 63,000,000 shares of common stock offered by investment funds affiliated with Goldman, Sachs & Co., The Carlyle Group and Riverstone Holdings LLC. The offering price of the common stock was $31.88. The offering is expected to close and settle on June 11, 2012. Neither the Company nor the Company’s management is selling any shares of common stock in the offering, and the Company will not receive any of the proceeds from the offering of shares by the selling stockholders. Barclays is acting as the sole underwriter for the offering. Full Article
Kinder Morgan Inc Announces Secondary Sale Of Common Stock
Kinder Morgan Inc announced a public offering of its common stock. The size of the offering is 63,000,000 shares of common stock offered by investment funds affiliated with Goldman, Sachs & Co., The Carlyle Group and Riverstone Holdings LLC. The offering is expected to close and settle on June 11, 2012. Neither the Company nor the Company’s management is selling any shares of common stock in the offering, and the Company will not receive any of the proceeds from the offering of shares by the selling stockholders. Barclays Capital is acting as the sole underwriter for the offering. Full Article
Kinder Morgan to expand terminal on Houston Ship Channel
HOUSTON, May 13 - Kinder Morgan Energy Partners LP will build nine new storage tanks at its Galena Park terminal along the Houston Ship Channel and construct a new barge dock at its terminal in Pasadena east of Houston, the company said on Monday.
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