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Enbridge Inc
Symbol ENB
Shares Issued 929,112,973
Close 2016-06-03 C$ 53.13
Market Cap C$ 49,363,772,255
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Globe says despite cuts, Suncor, Enbridge CEO pay soars

2016-06-06 05:38 ET - In the News

See In the News (C-SU) Suncor Energy Inc

The Globe and Mail reports in its Saturday, June 4, edition that Enbridge chief executive officer Al Monaco saw his annual bonus climb 42 per cent to $1.75-million in 2015 and his total pay package grow by 50 per cent to $8.9-million because the company posted "strong financial results," according to spokesman Graham White. The Globe's Janet McFarland writes that the pipeline operator's share price fell 23 per cent in 2015 and it posted a loss of $37-million while cutting 600 jobs. Mr. White said, however, Enbridge's internally adjusted earnings per share were up 16 per cent, cash flow from operations rose 23 per cent and Enbridge completed 14 major projects worth $8-billion. Suncor said CEO Steve Williams earned $12.2-million in 2015 -- a year when Suncor had a loss of $2-billion and it cut more than 1,700 jobs -- because the company had its best operating performance in its history, generated significant cash flow and reduced operating costs. Suncor said its share price also led its peer group with a relatively modest drop of 3.2 per cent in 2015. As a result, the board awarded Mr. Williams an annual cash bonus of $2.8-million, a 33-per-cent increase from $2.1-million in 2014.

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