Kinder Morgan Q3 Profit Rises - Quick Facts

(RTTNews) - Kinder Morgan Inc. (KMI) reported that its third-quarter net income attributable to the company was $286 million or $0.27 per class P share, compared to $200 million or $0.19 per class P share in the comparable quarter last year.

Revenues for the quarter rose to $3.65 billion, from $2.87 billion in the prior year quarter.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.32 per share on revenues of $3.70 billion for the quarter. Analysts' estimates typically exclude special items.

Further, KMI increased its quarterly cash dividend for 2013 to $0.41 per share, payable on Nov. 15, 2013, to shareholders of record as of Oct. 31, 2013. This represents a 14 percent increase over the third quarter 2012 cash dividend per share of $0.36.

As previously announced, KMI expects to declare dividends of at least $1.60 per share for 2013, an increase from its 2013 published annual budget of $1.57 per share as a result of the close of the Copano acquisition. KMI's projected declared dividend per share of $1.60 represents an increase of 14 percent over its 2012 declared dividend of $1.40 per share. Growth in 2013 is expected to be driven by strong performance at KMP, along with contributions from EPB.