Benzinga | Jul 21, 2021 04:09PM EDT

Kinder Morgan Sees FY21 Net Income Attributable To KMI Of $1.7B;

For 2021, KMI now expects to generate net income attributable to KMI of $1.7 billion and declare dividends of $1.08 per share, a 3% increase from the 2020 declared dividends. KMI expects to meet or exceed the top end of the range provided last quarter for DCF and Adjusted EBITDA. We currently anticipate generating 2021 DCF of $5.4 billion and Adjusted EBITDA of $7.9 billion. KMI also now expects to end 2021 with a Net Debt-to-Adjusted EBITDA ratio of 4.0.

As of June 30, 2021, we had over $3.9 billion of borrowing capacity under our $4 billion credit facility and over $1.3 billion in cash and cash equivalents. Our acquisition of Stagecoach, which closed July 9, was funded out of this cash. We believe this borrowing capacity, current cash on hand, and our cash from operations are more than adequate to allow us to manage our cash requirements, including maturing debt, through 2021.