Sign Up for FREE Daily Energy News
CDN NEWS  |   US NEWS  | TIMELY. FOCUSED. REVELANT. FREE
BREAKING NEWS:

Shocker PASS - Headwind Solutions
Hazloc Heaters
Sur-Flo Meters
Hazloc Heaters
Sur-Flo Meters
Shocker PASS - Headwind Solutions

Enbridge to pay higher dividends to shareholders next year and sell some assets


CALGARY — Enbridge says it is going to sell off at least $3 billion of its assets next year.

The Calgary-based energy giant said it has identified $10 billion of what it describes as non-core assets.

Enbridge announced a strategic update late Wednesday to focus the company on its pipeline and utilities businesses following the takeover of U.S -based Spectra Energy earlier this year.

"We will rationalize our asset mix to a pure regulated pipeline and utility business model," Enbridge CEO Al Monaco said in a statement.

The company said it is also planning to issue $1.5 billion of common shares and shareholders will see their dividend cheques increase next year.

Enbridge (TSX:ENB) said it will pay out a quarterly dividend of $0.671 per common share, payable on March 1, 2018. The dividend represents a 10 per cent increase from the previously quarterly rate.

The company has an extensive network of oil and natural gas pipelines that ship about 65 per cent of Canadian crude oil exports bound for the U.S.

The Canadian Press



Share This:



More News Articles


New SHOWCASE Directory Companies

 

Gardner Denver
T.A. Cook
STEP Energy Services
Presto GeoSystems