Enbridge Increases Dividend by 12%; Strong Outlook for Growth
CALGARY, ALBERTA -- (Marketwire) -- 12/06/12 -- Enbridge Inc.
(TSX:ENB) (NYSE:ENB) today announced that its Board of Directors has
declared a quarterly dividend of $0.315 per common share, payable on
March 1, 2013 to shareholders of record on February 15, 2013. The
dividend reflects a 12% increase from the prior quarterly rate.
Enbridge also announced a guidance range for 2013 adjusted earnings
of $1.74 to $1.90 per share.
"During 2012 we have built a strong foundation for the future of
Enbridge and its stakeholders," said Al Monaco, President and Chief
Executive Officer, Enbridge Inc. "The most important area of progress
has been the continued implementation of our Operational Risk
Management Plan in support of our highest priority - the safe,
reliable and environmentally responsible operation of our business.
At the same time, in response to evolving North American energy
fundamentals and the needs of our customers for access to new
markets, we've received customer support for another $14 billion of
attractive investment opportunities. This brings us to a total of $26
billion of commercially secured growth investment over 2012 to 2016.
We are on schedule and on budget with substantially all of these
projects, and we are well advanced with the external funding we'll
require to supplement our growing internal cash flow.
"The additional opportunities we've secured since our Enbridge Day
investor conference in October reinforce the likelihood of exceeding
the 10% plus EPS growth rate potential we discussed at that time.
They also enhance the prospects that we will be successful in
extending our industry leading growth rate well beyond the middle of
the decade. Nearer term, as our guidance range indicates, 2013 will
be another strong year for earnings growth, and we are comfortable
with another substantial dividend increase given these prospects."
Enbridge's Board of Directors also declared the following quarterly
dividends for Enbridge Inc. Preferred Shares. All dividends are
payable on March 1, 2013 to shareholders of record on February 15,
Preferred Shares, Series A $0.34375
Preferred Shares, Series B $0.25
Preferred Shares, Series D $0.25
Preferred Shares, Series F $0.25
Preferred Shares, Series H $0.25
Preferred Shares, Series J US$0.25
Preferred Shares, Series L US$0.25
Preferred Shares, Series N $0.25
Preferred Shares, Series P $0.25
Preferred Shares, Series R(1) $0.2356
(1) This is the first dividend declared for Preferred Shares, Series R which
were issued Dec. 5, 2012. The regular quarterly dividend payable on the
Series R preferred shares, which will take effect on the June 1, 2013
dividend payment, is $0.25 per share.
Enbridge Inc. will host a webcast conference call to discuss its 2013
Guidance as follows:
Event: Enbridge Inc. 2013 Guidance Conference Call
Date: Thursday, December 6, 2012
Time: 2:30 p.m. Mountain Time / 4:30 p.m. Eastern Time
Webcast Registration: sign-up
Conference Call Information
Dial-in #'s (Audio only - please dial in 10 minutes ahead if not
North America: 1-888-713-4213
Outside North America: +617-213-4865
Participant Passcode: 33022607
Pre-Registration for Conference Call
For participants wishing to pre-register for the conference call,
please click on this link.
Pre-registration is not mandatory, but is recommended as it provides
immediate entry into the call and facilitates the timely start of the
conference. Once pre-registration is completed you will receive
online confirmation with a passcode and PIN. This information should
be noted or copied into your calendar as you will be prompted for
this information when dialing in on the day of the event.
About Enbridge Inc.
Enbridge Inc. is a North American leader in delivering energy and one
of the Global 100 Most Sustainable Corporations. As a transporter of
energy, Enbridge operates, in Canada and the U.S., the world's
longest crude oil and liquids transportation system. The Company also
has a significant and growing involvement in natural gas gathering,
transmission and midstream businesses, and an increasing involvement
in power transmission. As a distributor of energy, Enbridge owns and
operates Canada's largest natural gas distribution company, and
provides distribution services in Ontario, Quebec, New Brunswick and
New York State. As a generator of energy, Enbridge has interests in
close to 1,000 megawatts of renewable and alternative energy
generating capacity and is expanding its interests in wind and solar
energy, geothermal and hybrid fuel cells. Enbridge employs more than
10,000 people, primarily in Canada and the U.S. and is ranked as one
of Canada's Greenest Employers and one of Canada's Top 100 Employers
for 2013. Enbridge is included on the 2012/2013 Dow Jones
Sustainability World Index and the Dow Jones Sustainability North
America Index and is also a constituent of the 2012/2013 FTSE4Good
Index Series. Enbridge's common shares trade on the Toronto and New
York stock exchanges under the symbol ENB. For more information,
Certain information provided in this news release constitutes
forward-looking statements. The words "anticipate", "expect",
"project", "estimate", "forecast" and similar expressions are
intended to identify such forward-looking statements. Although
Enbridge believes that these statements are based on information and
assumptions which are current, reasonable and complete, these
statements are necessarily subject to a variety of risks and
uncertainties pertaining to operating performance, regulatory
parameters, weather, economic conditions and commodity prices. You
can find a discussion of those risks and uncertainties in our
Canadian securities filings and American SEC filings. While Enbridge
makes these forward-looking statements in good faith, should one or
more of these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may vary
significantly from those expected. Except as may be required by
applicable securities laws, Enbridge assumes no obligation to
publicly update or revise any forward-looking statements made herein
or otherwise, whether as a result of new information, future events
(403) 508-6563 or Toll Free: (888) 992-0997
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