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CALGARY, Dec. 11, 2018 /CNW/ – Enbridge Inc. (Enbridge or the Company) (TSX:ENB)(NYSE:ENB) today announced an update to its strategic plan and longer range financial outlook. The following summarizes the key elements of the updated plan and related actions, which will be further discussed at the Company’s investor conference today in New York. Highlights A 10% increase in the Company’s common share dividend to $2.95 annually, effective the first quarter of 2019. Re-affirmation of the Company’s three-year 2018 – 2020 distributable cash flow (DCF) per share guidance, with mid-points of $4.45 and $5.00 for 2019 and 2020, respectively. Positioning of the Liquids Pipelines Mainline system for the future through a long-term contract and tolling offering as well as through a variety of throughput optimizations. Announcement of $1.8B of newly secured growth capital in the Liquids Pipelines and Gas Transmission businesses. A 5%-7% post-2020 annual distributable cash flow per share growth target based on a fully self-funded model requiring no additional common equity. Further simplification of the Company’s debt funding structure and a strategy to reduce structural subordination and further enhance the consolidated credit profile. Strategic Priorities Enbridge established several strategic priorities last year in order to complete its transformation […]
