Enbridge raises quarterly dividend by 3%, release financial guidance for 2025
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Hey there, time traveller!
This article was published 03/12/2024 (644 days ago), so information in it may no longer be current.
CALGARY – Enbridge Inc. raised its quarterly dividend for next year as it released its financial guidance for 2025.
The pipeline company says it will pay a quarterly dividend of 94.25 cents per share, up from 91.5 cents per share, effective March 1.
The increased payment to shareholders amounts to an annualized dividend of $3.77 per share to give it an annual yield of about 6.2 per cent based on the company’s share price Monday.
In its outlook, Enbridge says it expects adjusted earnings before interest, income taxes and depreciation between $19.4 billion and $20.0 billion for 2025, a nine per cent increase from the midpoint of its 2024 guidance.
Distributable cash flow per share is expected to be $5.50 to $5.90 next year.
The company says the guidance is based on expected strong utilization across its businesses and contributions from acquisitions and growth projects that entered service in 2024 as well as partial-year earnings from projects that are expected to begin service in 2025.
This report by The Canadian Press was first published Dec. 3, 2024.
Companies in this story: (TSX:ENB)