Enbridge Inc. is raising its dividend by nearly 10 per cent.
The pipeline company says it will start paying a quarterly dividend of 81 cents, effective March 1, up from its previous rate of 73.8 cents.
The shares will have a yield of about 6.3 per cent, based on Enbridge’s closing share price on Monday.
In its outlook for 2020, Enbridge says it expects earnings before interest, taxes, depreciation and amortization of about $13.7 billion.
Get daily National news
Distributable cash flow per share for 2020 is expected to be in a rage of $4.50 to $4.80 per share.
- Staffer injured in Columbia Icefield all-terrain vehicle rollover
- 20.2% property tax increase required if Calgary funds all 2027 budget requests
- Ontario student accused in U.S. of taking airport photos for Chinese official
- Apology sanction struck for Red Deer school trustee who compared Pride to Nazism
Enbridge chief executive Al Monaco says the company’s emphasis in the near term will be on capital efficient in-franchise growth and executing its secured capital projects.
“Over the medium to longer term, Enbridge’s diversified asset base, integrated infrastructure networks and extensive reach provide us with many opportunities to extend growth,” Monaco says.
Comments
Want to discuss? Please read our Commenting Policy first.