KMI
#This is <UNK>.
I think in terms of what you can expect in the dividend, that's hard to say today.
I think in terms of what you next week at the conference as <UNK> said we are going to show you the portfolio of the backlog of projects that we have.
We are going to give you an approximate multiple that we expect to earn on that.
So you ---+ that is just the backlog has nothing to do with our base business, but you will get a sense for how much distributable cash flow we think will be produced from that backlog.
Than people can make whatever assumptions they want to make about what happens with the base business and how ---+ where exactly we take the balance sheet and how we return capital at some point to people whether that's share repurchase or dividends or otherwise.
But I think there is very good financial theory that says whether a Company pays a dividend or does not pay a dividend does not impact the value of the firm.
So we can tell you how much cash that we are going to produce from these investments, and then I think from that you can come up with what you think the value of the stock is worth.
What do you are saying is that the value of the firm depends on the dividend policy ---+
