Growth and a Dividend?

Thursday, 23 Oct 2008 | 8:06 PM ET

Kinder Morgan Energy Partners is one of those high-yielding dividend plays Cramer's loved so much recently.

Bullish on KMP
Pushing for Kinder Morgan Energy Partners, with Mad Money host Jim Cramer.

Over the past decade, KMP has raised its dividend by an average of 15% a year. Investors who bought the stock back on Dec. 31, 1997, saw their quarterly dividend payments increase 213% over the next 10 years. Those who reinvested their dividends – and remember, reinvesting dividends is a key part of Cramer's strategy – saw their payments go up 498%.

Next year, Kinder Morgan expects to offer an 8.6% yield to shareholders, not a paltry sum by any measure. And according to CEO Richard Kinder, even this tough market won't threaten the payout. Kinder told Cramer on Thursday that his firm is able to achieve growth even while rewarding shareholders. And the declining price of oil? Not a problem for this company.

Watch the video for more from Kinder and to see why Cramer said this company is "a great refuge in a troubled market."

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