The tightly-linked entities Kinder Morgan (NYSE: KMI ) and Kinder Morgan Energy Partners (NYSE: KMP ) are joining forces to make their share and unit holders richer. Both have boosted their dividends, with Kinder Morgan declaring a $0.40 per share distribution, and Energy Partners announcing a per-unit payout of $1.32. Both will be paid to share/unit holders of record as of July 31; the payment date for Kinder Morgan is August 15, while Energy Partners investors will receive their money one day earlier.
Kinder Morgan's $0.40 per share payout is $0.02, or 5%, higher than its previous quarterly disbursement of $0.38. Energy Partners' $1.32 is also $0.02 higher than its preceding dividend ($1.30); in percentage terms, the increase is 2%.
The former's new payout annualizes to $1.60 per share. That yields 4% at the stock's most recent closing price of $39.58. For Energy Partners, those figures are $5.28, 6.1%, and $86.73, respectively.