(Reuters) – U.S. pipeline operator Kinder Morgan on Wednesday more than doubled its first-quarter profit compared with the fourth and hiked its annual dividend by 3%, after a winter storm that hit Texas earlier this year boosted the margins for its state-wide pipeline network.
Adjusted profit stood at $1.37 billion, or 60 cents per share, in the first quarter ended March 31, compared with a profit of $604 million, or 27 cents per share, in the fourth quarter.
Reporting by Rithika Krishna in Bengaluru; Editing by Ramakrishnan M.
