This 6.4%-Yielding Dividend Stock Keeps Adding More Fuel to Continue Growing
Kinder Morgan (NYSE: KMI) pays one of the 10 highest-yielding dividends in the S&P 500 index at 6.4%. That's several times above that index's 1.5% average. While the company's cheap valuation is a big driver of its higher yield, Kinder Morgan has also increased its payout in each of the last six years.
The company's big-time payout should continue rising in the future. Fueling that belief is its ability to continue securing high-return expansion projects to grow its cash flow. It recently added more fuel to its dividend growth engine and has more potential fuel sources in the pipeline.
Kinder Morgan entered the second quarter with about $3.8 billion of capital projects in its backlog. It ended that period with roughly the same amount. However, there was a lot of movement in its backlog during the quarter.
Source Fool.com
