The Globe and Mail reports in its Wednesday edition that more companies are announcing plans to increase the rate at which they boost their dividends annually. The Globe's John Heinzl writes in the Yield Hog column that a dividend hike is a bullish sign because it speaks to the confidence companies have in their revenue cash flow outlooks. Mr. Heinzl says no company wants to raise its dividend only to throttle it back when times get tough. Enbridge has said its dividend would rise with projected earnings-per-share growth of about 10 to 12 per cent annually through 2018. However, with free-cash flow poised to rise at double that pace, thanks to new projects and lower maintenance capital spending, "there may be an opportunity to accelerate dividend growth," says chief executive officer Al Monaco. "After 2018 we could see significant surplus free cash, enabling us to further elevate dividend growth. ... That will depend on the size and quality of our capital investment opportunities." Some observers are speculating Enbridge could deliver a bigger-than-usual dividend increase as early as Dec. 4. ScotiaMcLeod's Robert Cable says, "A higher payout ratio would be well received."