KMI: 2020 Guidance - Published Budget
Cash Flow Generation Machine
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KINDER MORGAN
~$5 billion of 2019B distributable cash flow (DCF) = $2 billion for dividends + ~$3 billion to enhance shareholder value
$ billions
■Common dividends declared ■DCF after dividends
$3.4
$3.4
$1.1
2016
$2.9
2019B dividend
coverage of 2.2x
$2.7
$2.3
$1.8
$1.1
2017
2018
2019 Budget (a)
Generated $10 billion of DCF after dividends & >$10 billion of CFFO after dividends in last 3 years.
Note: See Non-GAAP Financial Measures and Reconciliations. CFFO defined as Net Cash Provided by Operating Activities. Amounts reflect DCF after declared common dividends and CFFO after cash common dividends paid.
a) Dividend coverage calculated as 2019 budgeted (2019B) DCF divided by 2019B common dividends declared. As stated in KMI's Q3 2019 earnings release, 2019 DCF is expected to be slightly below budget.
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