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Kinder Morgan Canada Ltd (KMLGF) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Kinder Morgan Canada Ltd

CIK: 1714973 Ticker: KMLGF
 
 
 
Exhibit 99.1


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KINDER MORGAN CANADA LIMITED DECLARES DIVIDEND AND ANNOUNCES RESULTS FOR THIRD QUARTER OF 2018
Closes on Trans Mountain Sale and Proposes Distribution of Proceeds as a Return of Capital

CALGARY, ALBERTA, October 17, 2018
- The Kinder Morgan Canada Limited (TSX: KML) board of directors has declared a dividend for the third quarter of 2018 of $0.1625 per restricted voting share ($0.65 annualized), payable on November 15, 2018, to restricted voting shareholders of record as of October 31, 2018. KML's restricted voting share dividends are eligible dividends for Canadian income tax purposes.
"KML's strategic infrastructure operations across western Canada had a strong third quarter, underpinned by multi-year take-or-pay contracts with high quality customers and stable cash flows," said KML Board Chairman and CEO Steve Kean.  KML reported third quarter net income (from continuing and discontinued operations) of $1,349.4 million, up from $42.4 million in the third quarter of 2017, primarily due to the $1,308.0 million gain, net of tax, on the sale of the Trans Mountain pipeline system. Distributable cash flow (DCF) was $80.6 million, up by 4 percent compared to the comparable prior year period. DCF for the quarter benefited from greater contributions from both the Pipelines and Terminals segments for the two months before the sale of Trans Mountain versus the same period in 2017, as well as interest income on the deposited proceeds from the sale of Trans Mountain, partially offset by the payment of preferred share dividends and the loss of September 2018 earnings from Trans Mountain.
In the third quarter, KML generated earnings per restricted voting share from continuing and discontinued operations, including gain on the sale of Trans Mountain, of $0.05 and $3.78, respectively. KML produced DCF of $0.230 per restricted voting share

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The following information was filed by Kinder Morgan Canada Ltd (KMLGF) on Wednesday, October 17, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Kinder Morgan Canada Ltd's Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets (In Millions Of Canadian Dollars, Except Share And Per Share Amounts) (Unaudited)
Consolidated Balance Sheets (Parenthetical)
Consolidated Statement Of Stockholders' Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (In Millions Of Canadian Dollars) (Unaudited)
Consolidated Statements Of Income (In Millions Of Canadian Dollars, Except Per Share Amounts) (Unaudited)
Benefit Plans (Notes)
Benefit Plans (Tables)
Benefit Plans Benefit Planss (Details)
Changes In Operating Assets And Liabilities (Details)
Changes In Operating Assets And Liabilities (Notes)
Changes In Operating Assets And Liabilities (Tables)
Credit Facility (Details)
Debt (Notes)
Equity (Notes)
Equity Common Stock (Details)
Equity Equity (Tables)
Equity Equity Earnings Per Share (Details)
Equity Equity Note Additional Details (Details)
Equity Preferred Stock (Details)
General (Notes)
General Adoption Of Asu (Details) (Details)
General General (Policies)
General General Additional Detail (Details)
Income Taxes (Notes)
Income Taxes Income Tax (Details)
Income Taxes Income Tax Effective Tax Rate (Details)
Income Taxes Schedule Of Effective Income Tax Rate Reconciliation (Tables)
Litigation, Environmental And Other Contingencies (Notes)
Litigation, Environmental And Other Contingencies Litigation General (Details)
Recent Accounting Pronoucements (Notes)
Related Party Transactions (Notes)
Related Party Transactions (Tables)
Related Party Transactions Affiliated Activities (Details)
Related Party Transactions Other Affiliate Balance (Details)
Reportable Segments (Notes)
Reportable Segments (Tables)
Reportable Segments Reportable Segments Assets (Details)
Reportable Segments Reportable Segments General (Details)
Reportable Segments Reportable Segments Segment Ebda (Details)
Reportable Segments Revenues (Details)
Revenue Recognition Revenue Recognition (Notes)
Revenue Recognition Revenue Recognition (Policies)
Revenue Recognition Revenue Recognition (Tables)
Revenue Recognition Revenue Recognition Contract Balances (Details)
Revenue Recognition Revenue Recognition Disaggregation Of Revenue (Details)
Revenue Recognition Revenue Recognition Revenue Allocated To Remaining Performance Obligations (Details)
Risk Management (Notes)
Risk Management Foreign Currency Transactions And Translation (Details)
Trans Mountain Transaction (Details)
Trans Mountain Transaction (Notes)
Trans Mountain Transaction (Tables)
Ticker: KMLGF
CIK: 1714973
Form Type: 10-Q Quarterly Report
Accession Number: 0001714973-18-000062
Submitted to the SEC: Wed Oct 24 2018 5:43:21 PM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Pipe Lines No Natural Gas

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