Kinder Morgan, Inc. reported consolidated unaudited earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported revenues of USD 3,079 million compared to USD 1,937 million a year ago. Operating income was USD 965 million compared to USD 441 million a year ago. Income before income taxes was USD 650 million compared to USD 340 million a year ago. Income from continuing operations was USD 605 million compared to USD 228 million a year ago. Net income was USD 616 million compared to USD 293 million a year ago. Net income attributable to the company was USD 349 million compared to USD 155 million a year ago. Basic and diluted earnings per class P shares from continuing operations was USD 0.34 compared to USD 0.21 a year ago. Basic and diluted earnings per class A shares from continuing operations was USD 0.32 compared to USD 0.19 a year ago. Basic and diluted earnings per common share was USD 0.34 compared to USD 0.22 a year ago. In the quarter, the company spent USD 17 million on CapEx.

For the year, the company reported revenues of USD 9,973 million compared to USD 7,943 million a year ago. Operating income was USD 2,593 million compared to USD 1,423 million a year ago. Income before income taxes was USD 1,543 million compared to USD 810 million a year ago. Income from continuing operations was USD 1,333 million compared to USD 449 million a year ago. Net income was USD 555 million compared to USD 660 million a year ago. Net income attributable to the company was USD 444 million compared to USD 594 million a year ago. Basic and diluted earnings per class P shares from continuing operations was USD 0.70 compared to USD 0.70 a year ago. Basic and diluted earnings per class A shares from continuing operations was USD 0.61 compared to USD 0.64 a year ago. Basic and diluted earnings per common share was USD 0.40 compared to USD 0.68 a year ago. For the year expansion CapEx was USD 71 million.

The board of directors increased the quarterly cash dividend to USD 0.37 per share (USD 1.48 annualized), which is payable on February 15, 2013, to shareholders of record as of January 31, 2013. This represents an increase of 19% from the fourth quarter 2011 cash dividend per share of USD 0.31 (USD 1.24 annualized) and is up from the third quarter 2012 dividend of USD 0.36 (USD 1.44 annualized) per share.

The company expects to declare dividends of USD 1.57 per share for 2013, a 16% increase over its 2012 budget target of USD 1.35 and a 12% increase over its 2012 declared dividend of USD 1.40 per share. Growth in 2013 is expected to be driven by continued strong performance at KMP, along with contributions from EPB and the natural gas assets that KMI acquired in the El Paso Corporation transaction.