Kinder Morgan expects to pay $4.40 annual dividend

AP News
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Posted: Nov 23, 2009 7:08 PM

Kinder Morgan Energy Partners LP said Monday that it expects to pay out an annual cash dividend of $4.40 per unit in 2010, up from $4.20 in 2009.

Chairman and CEO Richard D. Kinder also said in a statement that the energy transportation and storage company expects to invest about $1.5 billion in expansions and small acquisitions in 2010.

The board of directors will review and approve KMP's 2010 budget at its January meeting.

Shares of Kinder Morgan rose 22 cents to $56.85 in after-hours trading, after gaining 64 cents during the regular session to close at $56.63.