Enbridge Provides Notice of Series 13 Preferred Shares Conversion Right and Announces Reset Dividend Rates
Enbridge (NYSE: ENB) announced updates regarding its Series 13 Preferred Shares. The company will not redeem these shares on June 1, 2025, allowing holders to convert their Series 13 Shares to Series 14 Shares on a one-for-one basis. For Series 13 Shares retained after June 1, 2025, holders will receive a new annual dividend rate of 5.395% for the five-year period until June 1, 2030. For any converted Series 14 Shares, holders will receive quarterly floating rate dividends, with an initial rate of 1.33841% for the period from June 1 to September 1, 2025. The conversion period runs from May 2 to May 20, 2025. Currently, there are 14 million Series 13 Shares outstanding.
Enbridge (NYSE: ENB) ha annunciato aggiornamenti riguardanti le sue Azioni Preferenziali Serie 13. La società non riscatterà queste azioni il 1° giugno 2025, permettendo ai possessori di convertire le Azioni Serie 13 in Azioni Serie 14 con un rapporto uno a uno. Per le Azioni Serie 13 mantenute dopo il 1° giugno 2025, i possessori riceveranno un nuovo tasso di dividendo annuo del 5,395% per un periodo di cinque anni fino al 1° giugno 2030. Per le Azioni Serie 14 convertite, i possessori riceveranno dividendi trimestrali a tasso variabile, con un tasso iniziale del 1,33841% per il periodo dal 1° giugno al 1° settembre 2025. Il periodo di conversione va dal 2 al 20 maggio 2025. Attualmente, sono in circolazione 14 milioni di Azioni Serie 13.
Enbridge (NYSE: ENB) anunció actualizaciones sobre sus Acciones Preferentes Serie 13. La compañía no redimirá estas acciones el 1 de junio de 2025, permitiendo a los titulares convertir sus Acciones Serie 13 en Acciones Serie 14 en una proporción uno a uno. Para las Acciones Serie 13 que se mantengan después del 1 de junio de 2025, los titulares recibirán una nueva tasa de dividendo anual del 5,395% durante un período de cinco años hasta el 1 de junio de 2030. Para cualquier Acción Serie 14 convertida, los titulares recibirán dividendos trimestrales a tasa variable, con una tasa inicial del 1,33841% para el período del 1 de junio al 1 de septiembre de 2025. El período de conversión es del 2 al 20 de mayo de 2025. Actualmente, hay 14 millones de Acciones Serie 13 en circulación.
Enbridge (NYSE: ENB)는 시리즈 13 우선주에 대한 업데이트를 발표했습니다. 회사는 2025년 6월 1일에 해당 주식을 상환하지 않으며, 보유자는 시리즈 13 주식을 1:1 비율로 시리즈 14 주식으로 전환할 수 있습니다. 2025년 6월 1일 이후에도 보유 중인 시리즈 13 주식에 대해서는 2030년 6월 1일까지 5년간 연간 배당률 5.395%가 지급됩니다. 전환된 시리즈 14 주식에 대해서는 분기별 변동 금리 배당금이 지급되며, 2025년 6월 1일부터 9월 1일까지는 초기 금리가 1.33841%입니다. 전환 기간은 2025년 5월 2일부터 5월 20일까지입니다. 현재 1,400만 주의 시리즈 13 주식이 발행되어 있습니다.
Enbridge (NYSE : ENB) a annoncé des mises à jour concernant ses actions préférentielles de la Série 13. La société ne procédera pas au rachat de ces actions le 1er juin 2025, permettant ainsi aux détenteurs de convertir leurs actions de la Série 13 en actions de la Série 14 à raison d’une action pour une. Pour les actions de la Série 13 conservées après le 1er juin 2025, les détenteurs percevront un nouveau taux de dividende annuel de 5,395% pour une période de cinq ans jusqu’au 1er juin 2030. Pour toute action convertie en Série 14, les détenteurs recevront des dividendes trimestriels à taux variable, avec un taux initial de 1,33841% pour la période du 1er juin au 1er septembre 2025. La période de conversion s’étend du 2 au 20 mai 2025. Actuellement, 14 millions d’actions de la Série 13 sont en circulation.
Enbridge (NYSE: ENB) hat Aktualisierungen zu seinen Vorzugsaktien der Serie 13 bekannt gegeben. Das Unternehmen wird diese Aktien am 1. Juni 2025 nicht zurückkaufen, wodurch Inhaber ihre Serie 13 Aktien im Verhältnis eins zu eins in Serie 14 Aktien umwandeln können. Für nach dem 1. Juni 2025 gehaltene Serie 13 Aktien erhalten die Inhaber einen neuen jährlichen Dividendenzins von 5,395% für einen Zeitraum von fünf Jahren bis zum 1. Juni 2030. Für umgewandelte Serie 14 Aktien erhalten die Inhaber vierteljährliche Dividenden mit variablem Zinssatz, mit einem Anfangszins von 1,33841% für den Zeitraum vom 1. Juni bis zum 1. September 2025. Die Umwandlungsfrist läuft vom 2. bis 20. Mai 2025. Derzeit sind 14 Millionen Serie 13 Aktien ausstehend.
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The foregoing conversion right is subject to the conditions that: (i) if Enbridge determines that there would be less than 1,000,000 Series 13 Shares outstanding after June 1, 2025, then all remaining Series 13 Shares will automatically be converted into Series 14 Shares on a one-for-one basis on June 1, 2025; and (ii) alternatively, if Enbridge determines that there would be less than 1,000,000 Series 14 Shares outstanding after June 1, 2025, no Series 13 Shares will be converted into Series 14 Shares. There are currently 14,000,000 Series 13 Shares outstanding.
With respect to any Series 13 Shares that remain outstanding after June 1, 2025, holders thereof will be entitled to receive quarterly fixed cumulative preferential cash dividends, as and when declared by the Board of Directors of Enbridge. The new annual dividend rate applicable to the Series 13 Shares for the five-year period commencing on June 1, 2025 to, but excluding, June 1, 2030 will be 5.395 percent, being equal to the five-year Government of
With respect to any Series 14 Shares that may be issued on June 1, 2025, holders thereof will be entitled to receive quarterly floating rate cumulative preferential cash dividends, as and when declared by the Board of Directors of Enbridge. The dividend rate applicable to the Series 14 Shares for the three-month floating rate period commencing on June 1, 2025 to, but excluding, September 1, 2025 will be 1.33841 percent, based on the annual rate on three month Government of
Beneficial holders of Series 13 Shares who wish to exercise their right of conversion during the conversion period, which runs from May 2, 2025 until 5:00 p.m. (EST) on May 20, 2025, should communicate as soon as possible with their broker or other intermediary for more information. It is recommended that this be done well in advance of the deadline in order to provide the broker or other intermediary time to complete the necessary steps. Any notices received after this deadline will not be valid.
Forward-Looking Statements
Forward-looking information, or forward-looking statements, have been included in this news release to provide information about Enbridge, including statements with respect to the conversion of all or part of the Series 13 Shares into Series 14 Shares on June 1, 2025, the annual dividend rate that will apply to any outstanding Series 13 Shares on June 1, 2025, the quarterly dividend rate that will apply to any outstanding Series 14 Shares on June 1, 2025, and the declaration of dividends by the Board of Directors of Enbridge. This information may not be appropriate for other purposes. Although Enbridge believes these forward-looking statements are reasonable based on the information available on the date such statements are made and on processes used to prepare the information, such statements are not guarantees of future events and readers are cautioned against placing undue reliance on forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual events to differ materially from those expressed or implied by such statements. Material assumptions include assumptions about whether holders of Series 13 Shares will exercise their right to convert their Series 13 Shares into Series 14 Shares.
Enbridge's forward-looking statements are subject to risks and uncertainties, including, but not limited to those risks and uncertainties discussed in this news release and in the Company's other filings with Canadian and
Enbridge's future course of action depends on management's assessment of all information available at the relevant time. Except to the extent required by applicable law, Enbridge assumes no obligation to publicly update or revise any forward-looking statements made in this news release or otherwise, whether as a result of new information, future events or otherwise. All subsequent forward-looking statements, whether written or oral, attributable to Enbridge or persons acting on its behalf, are expressly qualified in their entirety by these cautionary statements.
About Enbridge Inc.
At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We're investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We're advancing new technologies including hydrogen, renewable natural gas, carbon capture and storage. Headquartered in Calgary,
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SOURCE Enbridge Inc.
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