Kinder Morgan, Inc. (KMI) will raise its quarterly dividend by 2.9 percent in 2021. This follows a dividend hike of 5.0 percent to $0.2625 per share announced in 2020 by the energy infrastructure company. This marks the 4th consecutive year of higher payments.

The next dividend is payable on May 17, 2021, to stockholders of record as of the close of business on April 30, 2021. A new annual rate of $1.08 per share yields 6.4% at a stock price of $16.78.

“Apart from the storm and throughout the quarter, our assets continued to provide strong cash flow as we remain guided by a sound corporate philosophy: fund our capital needs internally, maintain a healthy balance sheet, and return excess cash to our shareholders through dividend increases and/or share repurchases,” said KMI Executive Chairman Richard D. Kinder.

Kinder Morgan, Inc. is one of the largest energy infrastructure companies in North America. It owns an interest in or operates approximately 85,000 miles of pipelines and 152 terminals. KMI’s pipelines transport natural gas, refined petroleum products, crude oil, condensate, CO(2) and other products, and its terminals transload and store petroleum products, ethanol and chemicals, and handle such products as steel, coal and petroleum coke. It is also a leading producer of CO(2) that we and others use for enhanced oil recovery projects primarily in the Permian basin.