Kinder Morgan Q4 Profit From Cont. Ops. Declines - Quick Facts

(RTTNews) - Kinder Morgan Inc. (KMI) reported fourth-quarter income from continuing operations of $566 million or $0.08 per Class P share, compared to $706 million or $0.33 per share, prior year. Net income before certain items was $664 million compared to $640 million for the same period in 2013. Distributable cash flow per share per share before certain items was $0.60, for the quarter.

On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $0.34 for the quarter. Analysts' estimates typically exclude special items.

Revenue increased to $3.95 billion from $3.87 billion last year. Analysts expected revenue of $4.30 billion for the quarter.

Kinder Morgan, Inc. also announced that its board has approved an increase in quarterly cash dividend to $0.45, payable on Feb. 17, 2015, to shareholders of record as of the close of business on Feb. 2, 2015. The company reconfirmed expectation to declare Dividends of $2.00 per share for 2015.

The board of Kinder Morgan announced that Steve Kean will become CEO of Kinder Morgan effective June 1, 2015. At that time, Rich Kinder will become Executive Chairman.