Kinder Morgan Completes Merger Deals

(RTTNews) - Kinder Morgan, Inc. (KMI) said Wenesday that it has completed its acquisition of the outstanding equity securities of Kinder Morgan Energy Partners, L.P. (KMP), Kinder Morgan Management, LLC (KMR) and El Paso Pipeline Partners, L.P. (EPB).

The about $76 billion deal was initially announced on August 10.

Kinder Morgan Chairman and CEO Richard Kinder said, "We are delighted to close the KMP, KMR and EPB transactions. We believe merging the companies benefits our shareholders and unitholders, simplifies the Kinder Morgan story by transitioning to one security and paves the way for superior growth at KMI for years to come. KMI projects a dividend of $2.00 per share for 2015, a 16 percent increase over the 2014 KMI dividend budget of $1.72 per share. The company expects to grow the dividend by approximately 10 percent each year from 2015 through 2020, while producing excess coverage of over $2 billion."