Kinder Morgan Energy Partners LP, Kinder Morgan Management LLC and El Paso Pipeline Partners LP announced that Kinder Morgan Inc.’s (KMI’s) registration statement on Form S-4 was declared effective by the U.S. Securities and Exchange Commission (SEC). Each company filed a proxy statement/prospectus, as applicable, with the SEC, and has set Nov. 20 as the date of its special meeting to vote on proposals related to the merger announced on Aug. 10. Proxy materials are being mailed to shareholders and unitholders. Unitholders and shareholders at close of business on Oct. 20 can vote at the special meeting.
“We are delighted that the special meeting date of Nov. 20 has been set for shareholders and unitholders of the Kinder Morgan companies to vote on this transaction, which we anticipate will close by Thanksgiving,” said Chairman and CEO Richard Kinder. “We believe merging the companies benefits our shareholders and unitholders, simplifies the Kinder Morgan story by transitioning to one security and paves the way for superior growth at KMI for years to come. KMI projects a dividend of $2 per share for 2015, a 16% increase over the budgeted 2014 KMI dividend target of $1.72 per share, and the company expects to grow the dividend by approximately 10% each year from 2015 through 2020 while producing excess coverage of over $2 billion.”
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