Topic: How To Invest

The Successful Investor Hotline – Friday, December 11, 2020

Article Excerpt

ENBRIDGE INC., $43.55, Toronto symbol ENB, is still a buy. The stock gives you exposure to pipelines pumping oil and natural gas from Western Canada to eastern Canada and the U.S. It also distributes gas to 3.7 million consumers in Ontario and Quebec. Enbridge is raising your quarterly dividend by 3.1%. Starting with the March 2021 payment, investors will receive $0.835 a share instead of $0.81. The new annual rate of $3.34 yields a high 7.7%. The company has now increased that annual payment each year for the past 26 years. Meantime, Enbridge continues to move ahead with its plan to spend $16 billion on new projects and upgrades: roughly $6 billion on gas pipelines, $5 billion on oil pipelines, $4 billion on gas distribution networks and $2 billion on renewable power projects. The company has already spent $6 billion of that $16 billion. It expects to spend the remaining $10 billion by the end of 2023. To put those amounts in context, the…

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