Kinder Morgan Expects To Invest $3.2 Bln On Expansion Projects In 2017

(RTTNews) - Kinder Morgan, Inc. (KMI) announced its preliminary 2017 financial projections. The company expects to invest $3.2 billion on expansion projects in 2017 and fund with excess, internally generated cash flow, with no need to access equity markets during 2017.

The company expects to generate $4.46 billion of distributable cash flow for 2017 which continues to provide us great strength and flexibility. It is also confident in outlook for growth, largely supported by $13 billion backlog of energy infrastructure expansion opportunities that have a high probability of completion over the next few years.

KMI expects to declare dividends of $0.50 per share in 2017. KMI also expects to provide guidance on a revised dividend policy in the latter part of 2017, with a view toward delivering additional value to its shareholders in 2018.

The KMI board of directors will review the 2017 budget for approval at the January board meeting and the budget will be discussed in detail by management during the company's annual analyst meeting to be held on Jan. 25, 2017, in Houston, Texas.