Enbridge Reaffirms FY24 Outlook; Boosts Dividend 3%

(RTTNews) - Enbridge, Inc. (ENB, ENB.TO) on Tuesday reaffirmed its fiscal 2024 distributable cash flow or DCF, guidance around the midpoint of the DCF per share range.

Looking ahead to fiscal 2025, the company now expects DCF per share in a range of $5.50 to $5.90 per share.

The company also reaffirmed its 2023 to 2026 growth of 4 to 6 percent for adjusted earnings per share (EPS), approximately 3 percent for DCF per share, and 7 to 9 percent for EBITDA.

Additionally, Enbridge announced that the quarterly common share dividend for 2025 will be increased by 3.0 percent to $0.9425 from $0.915 per common share, commencing with the dividend payable on March 1, 2025, to shareholders of record on February 15, 2025.

Enbridge also expects to deploy approximately $7 billion of capital in 2025, exclusive of maintenance capital.