04:20:03 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 1,653,650,754
Close 2017-12-01 C$ 48.63
Market Cap C$ 80,417,036,167
Recent Sedar Documents

Globe says Enbridge selling assets and shares

2017-12-01 08:35 ET - In the News

Also In the News (C-ENF) Enbridge Income Fund Holdings Inc

The Globe and Mail reports in its Friday, Dec. 1, edition that the burning question that has been swirling around Enbridge is whether it will sell assets or sell new shares. The Globe's Tim Kiladze and Jeff Lewis write that Enbridge said Wednesday it will do both. Enbridge shares jumped $2.90 to $48.65 on Thursday after the company announced plans to shed $3-billion in assets in 2018 and said it would sell $2-billion in shares immediately -- $1.5-billion by the parent company and $500-million by subsidiary Enbridge Income Fund Holdings. The company is also throttling back dividend growth. Enbridge said the quarterly payout would jump by 10 per cent next year, and by the same rate through 2020. It had previously targeted annual increases of 10 per cent to 12 per cent through 2024. The financial moves are aimed at allaying concern about Enbridge's ability to finance increasing payouts to investors while at the same time completing $22-billion in major growth projects. Before releasing results of its strategic review, Enbridge shares were down 7 per cent since its last earnings release in early November. The stock had dropped about 19 per cent since it acquired rival Spectra Energy in September, 2016.

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