The Globe and Mail reports in its Friday, Dec. 5, edition that Enbridge soared $5.61 to close Thursday at $60.04 following news of a plan to restructure its finances by transferring $17-billion of Canadian assets into an income fund it controls. The Globe's Jeffrey Jones writes that the move allows allows Enbridge to bump up its dividend by a third. In what is known as a dropdown, Enbridge is shifting ownership of the Canadian portion of its main oil pipeline network, its regional oil sands lines in Alberta and wind farms into the Enbridge Income Fund. The move will lower the cost of funding $44-billion of new projects it has on the drawing board. The parent company has not garnered sufficient value in the stock market despite a solid record of increases in earnings per share, and a long list of planned projects that will boost cash flow, says chief executive officer Al Monaco. It has several developments in the works apart from those facing lengthy delays, such as the contentious Northern Gateway oil line to the West Coast from Alberta. Enbridge elated investors with its initial dividend increase and further expected dividend increases of 14 per cent to 16 per cent annually between 2015 and 2018.