After a Solid 2023, This High-Yield Dividend Stock Expects to Make Even More Money in 2024
Kinder Morgan (NYSE: KMI) made a lot of money in 2023. The natural gas pipeline giant recently reported that it hauled in over $4.7 billion of distributable cash flow for the year. While that was down from 2022's total due to lower commodity prices and higher interest rates, it was more-than-enough cash to cover the company's 6.4%-yielding dividend.
The natural gas infrastructure giant expects to make even more money this year. It recently closed its acquisition of STX Midstream from NextEra Energy Partners, which will give it more fuel to grow its profits in 2024. Here's a look at last year's solid results and the company's expectations for the coming year.
Kinder Morgan recently reported its latest financial results. The pipeline company generated nearly $1.2 billion of distributable cash flow during the fourth quarter, pushing its full-year total to $4.7 billion.
Source Fool.com
