Pipeline company Enbridge to raise dividend by nearly 10 per cent

Must Read

Four active COVID-19 cases in Northern B.C.

VICTORIA, B.C. – There are still four active COVID-19 cases in Northern B.C. with a total of...

COVID-19 Townhall for Northern Health this Thursday

PRINCE GEORGE, B.C. - Northern Health and the Provincial Government will host another virtual townhall on COVID-19.

Central Mountain Air to start flying to Fort St. John in July

FORT ST. JOHN, B.C. - Central Mountain Air has delayed restarting flights out of Fort St. John...

CALGARY — Enbridge Inc. is raising its dividend by nearly 10 per cent.

The pipeline company says it will start paying a quarterly dividend of 81 cents, effective March 1, up from its previous rate of 73.8 cents.

The shares will have a yield of about 6.3 per cent, based on Enbridge’s closing share price on Monday.

- Advertisement -

Community Interviews with Moose FM


In its outlook for 2020, Enbridge says it expects earnings before interest, taxes, depreciation and amortization of about $13.7 billion.

Distributable cash flow per share for 2020 is expected to be in a rage of $4.50 to $4.80 per share.

Enbridge chief executive Al Monaco says the company’s emphasis in the near term will be on capital efficient in-franchise growth and executing its secured capital projects.

“Over the medium to longer term, Enbridge’s diversified asset base, integrated infrastructure networks and extensive reach provide us with many opportunities to extend growth,” Monaco says.

This report by The Canadian Press was first published Dec. 10, 2019.

Companies in this story: (TSX:ENB)

The Canadian Press

Advertisement


More Articles Like This