KMI announced today a quarterly dividend increase of from $0.41 to $0.42 per share that's payable May 16, 2014 to holders of record April 30, 2014. This is up 11% from the same quarter of last year.
This is welcome news to investors as they held their last two quarterly payments the same. If you follow KMI, you would know that they had a streak of increasing every quarter. It looks like they may be back on track now.
KMI reported first quarter cash available to pay dividends of $573 million, up 12% from $513 million for the same quarter last year. KMI is on track to declare dividends of $1.72 for 2014, which would be an 8% increase from the $1.60 declared in 2013.
I don't know about you, but I'll take a 5% yielder that grows dividends at 8% any day! This would produce a 10% YOC in just 9 years.
Since I own 337.73 shares this will increase my yearly dividends by $13.51. This is the 15th stock in my portfolio to increase their dividend already this year.
Thanks for the update. I hope KMI can meet the $1.72 for this year. They will have to raise by more than a penny during the next couple of quarters.
ReplyDeleteMDP,
DeleteNo problem, sometimes I can post these right away so I'm glad it helps. They should get three more quarter for their "fiscal" year so that means payments of $.43, $.43, $.44 would work.
Thanks for stopping by!
I love payraises! :)
ReplyDeleteR2R,
DeleteIndeed! It's my favorite part of being a loyal shareholder of these companies!
Cheers!
Yay! And to think all you had to do was wake up to get this =)
ReplyDeleteILG,
DeleteI completely agree. These raises we get are higher than inflation and higher than you get at most jobs! Plus, as you mentioned, we don't have to do any more work to receive them!
Thanks for stopping by!
I really like that KMI has states their target distribution for each year. It gives us a good idea of what they expect and makes planning a bit easier on us.
ReplyDeletePIP,
DeleteI agree with you. If only every company would do this. This also lets us know the confidence management has to predict their future payment 12 months ahead of time. I like it!
Take care