Kinder Morgan will pay a quarterly dividend of $0.2975 a share on November 16 to stockholders of record on November 2. The pipeline company declared the payout alongside third-quarter results that showed net income attributable to Kinder Morgan of $764 million, up from $628 million a year earlier. Earnings per share were $0.34, compared with $0.28.
A payout that is 2 percent higher than a year ago
The $0.2975 quarterly rate works out to $1.19 a share on an annual basis. Kinder Morgan says that is a 2 percent increase over the third-quarter 2025 dividend of $0.2925. The nine-month total of $0.8925 equals three payments of $0.2975, so November’s check is not a fresh increase.
Over the first nine months of 2026 the company declared $0.8925 a share, against $0.8775 for the same stretch of 2025. Kinder Morgan’s investor relations site says the company expects to pay $1.19 per share for the full year. Its 2026 budget assumed the same figure.
To get the November 16 payment, a shareholder has to be on the company’s books at the close of business on November 2, 2026. The release does not address how the dividend will be classified for tax purposes. That information typically arrives later on the tax form the broker sends.
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What the $764 million is made of
Revenue rose 9 percent to $4.53 billion from $4.15 billion. Operating income increased 9 percent to $1.16 billion. Adjusted EBITDA, the cash-earnings measure the company emphasizes, came in at $2.18 billion against $1.99 billion in the third quarter of 2025.
Net income attributable to Kinder Morgan rose 22 percent. Adjusted net income attributable to the company was $792 million, also up 22 percent, and adjusted earnings per share were $0.35 against $0.29. Interest expense fell 6 percent to $430 million, which helped the bottom line.
The third quarter included some one-time items. The company booked $138 million of legal, environmental and other accruals and a $71 million gain on a divestiture, the sale of its Tampa dry bulk terminals to Watco for $139 million. Total certain items for the quarter came to $28 million.
Segments moved differently. Natural gas pipelines grew transport volumes 3 percent and gathering volumes 14 percent. Refined products volumes fell 3 percent and crude and condensate volumes fell 11 percent. Even so, the products pipelines segment earned $313 million before certain items, up from $288 million.
A $14.4 billion project backlog, led by gas
Chief executive Kim Dang said, “This quarter we increased our expansion project backlog to $14.4 billion.” The backlog rose $4.7 billion from the second quarter. The company added $5.4 billion of projects in the quarter, net of $700 million that entered service.
Natural gas accounts for $13.2 billion of the total, the largest gas backlog in the company’s history. More than 75 percent of the backlog is tied to power generation and local distribution companies. Kinder Morgan cites increasing LNG exports, rising power demand and industrial expansion as drivers.
Two projects reached final investment decisions. The Southeast Connector would carry up to 2.6 billion cubic feet of gas a day over about 470 miles, with Kinder Morgan’s share near $3.1 billion. The Permian Link is a roughly $4.2 billion project, about $1.6 billion of it Kinder Morgan’s, running about 434 miles.
Executive Chairman Richard Kinder said the record-setting performance is firmly grounded in the company’s long-standing business model. That model leans on fee-based contracts. The release describes the resulting cash flows as stable and predictable, and $13.7 billion of the backlog is the stable take-or-pay kind.
Debt, cash flow and where the dividend is covered
Kinder Morgan spends heavily to grow. Third-quarter capital expenditures were $1.045 billion, up from $793 million a year earlier. Cash from operations was $1.59 billion, and the company paid $665 million in dividends in the quarter. Its table of cash flow lists free cash flow after dividends at negative $120 million for the quarter.
For the nine months the picture is positive. Free cash flow after dividends was $226 million, against $69 million a year earlier. Net debt was $32.23 billion on September 30, and the ratio of net debt to adjusted EBITDA stood at 3.5 times, down from 3.8 times at the end of 2025.
Management raised its outlook. It now expects 2026 adjusted EBITDA more than 6 percent above budget and adjusted earnings per share more than 13 percent above budget. The budget called for $8.6 billion of adjusted EBITDA and $1.36 a share. Year-end leverage is now expected at 3.6 times.
Shareholders who hold the stock in a taxable account will owe tax on the payout. The IRS explains that ordinary and qualified dividends are reported on Form 1099-DIV for distributions of at least $10. Among the projects in the backlog, the Plantation North Expansion, at more than $500 million, is expected to be complete by the end of 2026.
Holding Kinder Morgan for the November 16 payout?
A quarterly dividend check is one stream of income, and costs outside the portfolio keep arriving whatever the payout is. Programs that cut those costs, including Extra Help, Medicare Savings Programs and heating assistance, have to be applied for, and each has its own income limit.
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This article was produced with AI assistance and edited for accuracy against the sources linked above.
Warren Cohen is a finance writer based in Phoenix, Arizona, covering personal finance topics including credit, banking, and beginner investing. He earned his degree in business administration from Arizona State University and began his career working in consumer finance, where he gained direct experience with lending and credit systems. He now writes for personal finance websites and fintech platforms, focusing on clear, practical content that helps readers make informed financial decisions.
