Topic: How To Invest

Dividend Advisor Hotline – Friday, December 1, 2023

Article Excerpt

ENBRIDGE INC., $47.47, Toronto symbol ENB, is a buy. The company operates pipelines that pump oil and natural gas from Western Canada to eastern Canada and the U.S. It also distributes gas to 3.8 million consumers in Ontario and Quebec. With the March 2024, payment, Enbridge will raise your quarterly dividend by 3.1%. Investors will then receive $0.915 a share instead of $0.8875. The new annual rate of $3.66 yields a high 7.7%. The company has now increased that annual payment each year for the past 29 years. Thanks to recent acquisitions and new projects, Enbridge now expects its earnings before interest, taxes, depreciation and amortization (EBITDA) will rise about 4% in 2024 to between $16.6 billion and $17.2 billion. It also expects to its distributable cash flow to improve roughly 3%, from between $5.25 and $5.65 a share in 2023 to between $5.40 and $5.80 a share in 2024. The new annual dividend rate of $3.66 a share is equal to 65% of the…