Targa Resources Corp. announced that its board of directors has declared fourth quarter cash dividend of 77.50 per share, or $3.10 per common share on an annualized basis, for the fourth quarter 2014. The approved dividend represents increases of approximately 6% over the previous quarter's dividend and 28% over the dividend for the fourth quarter 2013.

This cash dividend will be paid February 17, 2015 on all outstanding common shares to holders of record as of the close of business on February 2, 2015.