13:01:14 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 856,712,928
Close 2015-07-15 C$ 58.51
Market Cap C$ 50,126,273,417
Recent Sedar Documents

FP says BOC move may buoy Enbridge, TransCanada

2015-07-16 09:35 ET - In the News

Also In the News (C-TRP) TransCanada Corp

The Financial Post reports in its Thursday edition that investors are hoping that the Bank of Canada's rate cut on Wednesday will add some life to Canada's moribund stock market. The Post's John Shmuel and David Pett write that the S&P/TSX Composite is down 3.13 per cent in the past 12 months, underperforming the S&P 500. The index has been hammered by a collapse in oil price. Wednesday's rate cut saw the BOC lower its benchmark rate from 75 basis points to 50. The TSX perked up by 0.43 per cent on the news. One area of the market that could be rewarded for the cut is Canadian dividend stocks. Baskin stockpicker Barry Schwartz says, "Anything that pays a dividend and has a history of raising dividends should be worth a lot more today than it was yesterday." Investors pile into dividend paying names when rates go down. Most traditional dividend sectors on the TSX are down or flat this year. Mr. Schwartz says: "The market is not rewarding these companies, which have deep underperformance -- Enbridge, TransCanada, for example. The REITs have delivered nothing but their yields this year." With two interest rate cuts this year, Mr. Schwartz says dividend stocks could add some lift to the TSX.

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