Second Raise From Enbridge In 2017

enbridge-logo

Hey fellow investors how are you? Today’s post is about Enbridge raising their dividend for the second time this year. Back in January Enbridge announced a 10% increase to the dividend marking the 22nd consecutive year that the company has raised the dividend. Also during that announcement the company stated that after they closed the acquisition of Spectra Energy which was completed on February 27, 2017 that the dividend would be raised again for a total increase of 15% in 2017.

About Enbridge:

Enbridge Inc. is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System. Gas Distribution consists of its natural gas utility operations, the core of which is Enbridge Gas Distribution Inc. Green Power and Transmission consists of its investments in renewable energy assets and transmission facilities. Renewable energy assets consist of wind, solar, geothermal and waste heat recovery facilities in Canada. Energy Services undertake physical commodity marketing activity and logistical services, and oversee refinery supply services.

(Source: Google Finance)

Announcement

On May 4th the Board of Directors announced an increase of approximately 5% to the common share dividend. The new dividend is now $0.61 (previously was $0.583). The new dividend is payable on June 1, 2017 to shareholders of record on May 15, 2017.

Impact On Portfolio

I currently own 94 shares of Enbridge which were purchased in 2014. This raise is the 4th that I have received.

My income will increase $10.16. If I include the January dividend increase my forward income grows to $30.08.

Congrats to all of the other shareholders on receiving this raise.

Thanks for reading

Matthew

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