21:20:53 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 843,997,451
Close 2014-07-14 C$ 50.96
Market Cap C$ 43,010,110,103
Recent Sedar Documents

Enbridge to list Series 13 preferred shares July 17

2014-07-15 20:41 ET - Prospectus Approved

Enbridge Inc. will list 14 million cumulative redeemable preferred shares, Series 13, on the Toronto Stock Exchange at the open on Thursday, July 17, 2014, according to the TSX. As in a July 10, 2014, prospectus supplement, Enbridge plans to sell 14 million Series 13 preferred shares at $25 each, raising $350-million.

During the initial fixed-rate period, which ends on June 1, 2020, Enbridge plans to pay quarterly cash dividends of 27.5 cents per share on the first day of March, June, September and December in each year. The initial dividend, if declared, will be 41.29 cents per share, based on the offering closing on July 17, 2014, and will be paid on Dec. 1, 2014.

The Series 13 shares are not redeemable by the company before June 1, 2020. On June 1, 2020, and on June 1 every five years thereafter, Enbridge can redeem any or all of the Series 13 shares for $25 plus any accrued and unpaid dividends. On June 1, 2020, and on June 1 every five years thereafter, holders of the Series 13 shares will have the right to convert any or all of their shares into cumulative redeemable preferred shares, Series 14, on a one-for-one basis.

Enbridge plans to use the money raised to partially finance capital projects, to lower its debt and for general corporate purposes.

The TSX reports the Series 13 preferred shares will trade under the symbol ENB.PF.E and Cusip No. 29250N 57 6.

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