KMI vs. WMB: Which Natural Gas Dividend Comes Out on Top?

Williams Companies (WMB) and Kinder Morgan (KMI) both raised their dividends in 2026, but the two natural gas pipeline giants differ significantly. KMI increased its quarterly dividend by 2%, while WMB hiked it by 5%. However, the payout coverage and growth rate are what truly separate the two. KMI's dividend of $0.2975 per share is expected to grow, but its payout ratio is tight, earning it a C+ grade.

On the other hand, WMB's dividend of $0.525 per share has a more comfortable payout ratio and has run a 52-year payment streak, earning it an A- grade. Despite KMI's strong cash flow and EBITDA growth, WMB's faster growth rate and longer streak of dividend payments make it the better dividend choice.