The Toronto Stock Exchange reports that Enbridge Inc. will list 1,827,695 cumulative redeemable preference shares, Series G, for trading at the open on June 1, 2023, under the symbol ENB.PR.G and with Cusip No. 29250N 85 7. According to the TSX, the listing results from the conversion of cumulative redeemable preference shares, Series F, into Series G shares.

The company will pay quarterly dividends on the Series G shares on the first day of March, June, September and December, at a variable rate based on the floating quarterly dividend rate. According to the TSX, the floating quarterly dividend rate for the Series G shares for the three-month floating rate period from and including June 1, 2023, to but excluding Sept. 1, 2023, will be 1.7543 per cent or approximately 43.858 cents per Series G share, if, as and when declared by the company's board of directors.

The TSX reports that the Series G shares will be redeemable in cash in the amount of: (i) $25 per Series G share in the case of a redemption on any Series G conversion date after June 1, 2023; or (ii) $25.50 per Series G share in the case of a redemption on any date that is not a Series G conversion date, in each case plus all accrued and unpaid dividends thereon (less any tax required to be deducted and withheld by the company) to but excluding the date fixed for redemption.

The Series G shares are convertible on each Series G conversion date into Series F shares on the basis of one Series F share for each Series G share converted, subject to certain restrictions described in the prospectus. The transfer agent and registrar is Computershare Trust Company of Canada at its principal offices in Calgary and Toronto, and the market-maker is W.D. Latimer Co. Ltd.