Energy Transitions and Financial Measures
Core Holding in Any Portfolio
Generating significant cash flow & returning value to shareholders
~$70 billion.
enterprise value
Largest energy infrastructure company in
the S&P500
~13% owned by
management & board
$7.7 billion 2023
budget Adj. EBITDA
~6.4% current
dividend yield
$3 billion share
buyback program
KINDER MORGAN
~41% of market cap value returned
to shareholders since 2016
S&P500 CURRENT DIVIDEND YIELDS y-axis represents # of S&P500 tickers
within the dividend yield range specified on the x-axis
Highly-aligned management with
significant equity interests
200
180
160
~$200mm increase year-over-year
140
120
100
Budgeted 2% dividend increase in 2023.
Top 10 dividend in the S&P500
$330mm of share repurchases YTD.
~$1.73 billion of repurchase program
remaining
40
8820
60
At ~6.4%, KMI has
a top 10 dividend
yield in the
S&P500
0-1%
1-2%
2-3%
3-4%
4-5%
5-6%
>6%
Note: Adjusted EBITDA is a non-GAAP measure. See Non-GAAP Financial Measures & Reconciliations. Data based on current dividend and share price from Bloomberg for companies included in the S&P500 as of 7/20/2023.
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