Enbridge Raises Quarterly Dividend, Issues 2023 Financial Guidance Globalnews.ca

Enbridge Inc. is increasing its quarterly dividend to shareholders.

The pipeline company says it will now pay a quarterly dividend of 88.75 cents per share, up from 86 cents per share.

based on Enbridge’s At Tuesday’s closing share price of $55.52, the shares would have a dividend yield of approximately 6.4 percent.

The increased payout to shareholders came as Enbridge reaffirmed its full-year guidance for adjusted earnings before interest, income taxes and depreciation in the top half of its range of $15.0 billion to $15.6 billion for 2022.

Distributable cash flow per share for the year is expected to be just above the midpoint of a range of $5.20 to $5.50.

For 2023, Enbridge offered guidance for EBITDA between $15.9 billion and $16.5 billion and distributable cash flow per share of $5.25 to $5.65.

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