02:44:13 EDT Fri 29 Mar 2024
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or Name
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CA



Enbridge Inc
Symbol ENB
Shares Issued 939,017,499
Close 2017-01-05 C$ 57.43
Market Cap C$ 53,927,774,968
Recent Sedar Documents

Enbridge increases quarterly dividend to 58.3 cents

2017-01-05 17:19 ET - News Release

Mr. Al Monaco reports

ENBRIDGE ANNOUNCES 10 PERCENT QUARTERLY DIVIDEND INCREASE

Enbridge Inc.'s board of directors has declared a quarterly dividend of 58.3 cents per common share, payable on March 1, 2017, to shareholders of record on Feb. 15, 2017. The declared dividend represents a 10-per-cent increase from the prior quarterly rate and the 22nd consecutive year in which the company has increased its common share dividend.

"The dividend increase reflects the strength of our base business, together with the impact of $2-billion in growth capital projects that we brought into service during 2016 and our expectations of additional Enbridge growth projects coming into service in 2017," said Al Monaco, president and chief executive officer. "Delivering consistent and dependable dividend growth is core to our shareholder value proposition and a direct reflection of our low-risk business model, which performs well in all market conditions."

This 10-per-cent dividend increase is independent of the planned combination with Spectra Energy Corp. As previously announced, upon close of the acquisition of Spectra Energy, the company expects to further increase its quarterly common share dividend by an amount sufficient to bring the aggregate increase in the quarterly dividend to approximately 15 per cent above the prevailing quarterly rate in 2016.

"The merger with Spectra Energy brings together the highest-quality liquids and natural gas infrastructure franchises in North America with the largest and most diversified growth projects in the industry," said Mr. Monaco. "The strength of this opportunity set gives us confidence that, following a 15-per-cent increase in 2017, we will be able to extend our industry-leading dividend growth rate of 10 to 12 per cent per annum through 2024."

Dividend declaration

On Jan. 5, 2017, the Enbridge board of directors declared quarterly dividends. All dividends are payable on March 1, 2017, to shareholders of record on Feb. 15, 2017.

Common shares:  58.3 cents

Preference shares, Series A:  34.375 cents

Preference shares, Series B:  25 cents

Preference shares, Series D:  25 cents

Preference shares, Series F:  25 cents

Preference shares, Series H:  25 cents

Preference shares, Series J:  25 U.S. cents

Preference shares, Series L:  25 U.S. cents

Preference shares, Series N:  25 cents

Preference shares, Series P:  25 cents

Preference shares, Series R:  25 cents

Preference shares, Series 1:  25 U.S. cents

Preference shares, Series 3:  25 cents

Preference shares, Series 5:  27.5 U.S. cents

Preference shares, Series 7:  27.5 cents

Preference shares, Series 9:  27.5 cents

Preference shares, Series 11:  27.5 cents

Preference shares, Series 13:  27.5 cents

Preference shares, Series 15:  27.5 cents

Preference shares, Series 17:  34.57 cents

About Enbridge

Enbridge operates the world's longest crude oil and liquids transportation system across Canada and the United States, and has a significant and growing involvement in natural gas gathering, transmission and mid-stream business, as well as an increasing involvement in power transmission. Enbridge owns and operates Canada's largest natural gas distribution company, serving residential, commercial and industrial customers in Ontario, Quebec, New Brunswick and New York. Enbridge has interests in more than 2,200 megawatts of net renewable and alternative generating capacity, and continues to expand into wind, solar and geothermal power. Enbridge employs approximately 10,000 people, primarily in Canada and the U.S., and has been ranked 15 times on the annual Canada top-100 employers list, including the 2017 index.

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