July 20, 2017 / 3:46 PM / 2 months ago

BUZZ-Kinder Morgan Inc: Trans Mountain pipeline expansion on schedule

(Updates)

** Shares of North America’s largest pipeline operator rise as much as 8 pct to $21.25; On course for biggest one-day pct gain since Feb 2016

** Stock among top gainers on NYSE; Volumes nearly 1.9x 30-DMA

** KMI says on Wednesday Trans Mountain pipeline expansion on schedule to begin in Sept amid political uncertainty

** Company plans to raise 2018 dividend by 60 pct to 80 cents/shr

** Also announces $2 bln share buyback program

** Expansion of the pipeline has become more uncertain since last month’s rise of a new provincial government in British Columbia that is opposing the expansion

** Shares of KMI Canada, spun off to part-finance the pipeline’s expansion, are down 1.2 pct, extending IPO losses to ~2.8 pct

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