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Article: Kinder Morgan Expects to Distribute $4.20 Per Unit for 2009.
- Article from:
- Business Wire
- Article date:
- November 24, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOUSTON -- Kinder Morgan Energy Partners, L.P. (NYSE:KMP) today announced its preliminary projections for next year, stating that it expects KMP to declare cash distributions of $4.20 per unit for 2009.
KMP Chairman and CEO Richard D. Kinder said, "Our preliminary expectations are to grow our distribution per unit by about 4.5 percent in 2009 compared to our 2008 budget of $4.02 per unit. Considering the existing turmoil in the financial markets and the dismal economic outlook, we are gratified that we expect KMP not only to maintain, but to increase, its distribution next year. We anticipate our business segments will generate approximately $2.85 billion in ...