Kinder Morgan Raises Dividend, On Track To Raise It Again This Year

Kinder Morgan Inc. said on Wednesday that it will raise its quarterly dividend to 48 cents a share, up 6.7% from the previous dividend of 45 cents. The new dividend will be payable May 15 to shareholders of record on April 30. The energy pipeline company said it remains on track to pay an annual dividend of $2 a share, which would imply an increase in its quarterly dividend to 50 cents a share. The stock, which slipped 0.3% in after-hours trade, has gained 2.7% year to date through Wednesday's close, just above the S&P 500's 2.3% rise.