This High-Yielding Dividend Stock Expects to Have Plenty of Fuel to Continue Growing
Kinder Morgan (NYSE: KMI) has two growth engines: acquisitions and expansion projects. Both will play starring roles in 2024.
The company completed a $1.8 billion acquisition late last year while putting $965 million of capital projects into service in the year's final quarter alone. Those catalysts drive the company's outlook for distributable cash flow to rise by 8% per share this year.
After finishing several expansion projects last year, Kinder Morgan has a growth-capital backlog that is much lighter. Despite that, the company remains confident it will have no problem finding more ways to boost its organic growth. Because of that, it should continue increasing its 6.5%-yielding dividend.
Source Fool.com
