Topic: How To Invest

Dividend Advisor Hotline – Friday, July 13, 2018

Article Excerpt

ENBRIDGE INC., $46.86, Toronto symbol ENB, operates pipelines that pump oil and natural gas from Western Canada to eastern Canada and the U.S. It also distributes gas to consumers in Ontario, Quebec, New Brunswick and New York State. Enbridge last raised its quarterly dividend with the March 2018 payment. Investors now receive $0.671 a share, up 10.0% from $0.61. The new annual rate of $2.684 yields a high 5.7%. The company also plans to increase its annual dividend rate by 10% each year through 2020. The company has now agreed to sell its natural gas gathering and processing operations in B.C. and Alberta to Brookfield Infrastructure Partners LP (Toronto symbol BIP.UN). Those operations include 19 natural gas processing plants as well as liquid-handling facilities and 3,550 kilometres of gas pipelines. The sale excludes Enbridge’s main gas pipelines: the Westcoast transmission system in B.C.; and the Alliance pipeline, which pumps gas from Western Canada to Chicago. The company will receive $4.3 billion when it completes…

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