Enbridge Inc. operates North American energy infrastructure that includes liquids pipelines, natural gas transmission, gas distribution and storage, and renewable power assets. Company updates regularly address financial results, guidance, dividends on common and preferred shares, and capital allocation tied to its secured project backlog.
Recurring developments also cover capacity expansions and regulatory approvals across systems such as the Canadian Mainline, Westcoast natural gas pipeline system, Vector Pipeline and Dawn Hub storage. Enbridge also reports on utility rate cases, shareholder meeting results, annual disclosure documents, and energy-transition technologies including hydrogen, renewable natural gas and carbon capture and storage.
Enbridge Inc. (ENB) announced a quarterly dividend of $0.860 per common share, payable on March 1, 2022, with a record date of February 15, 2022. This marks a 3% increase from the previous dividend rate, continuing a trend of increasing dividends for the 27th consecutive year. In addition to common shares, dividends were also declared for various preference shares with amounts ranging from $0.15719 to US$0.37182. This increase reflects Enbridge's commitment to returning value to shareholders.
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Enbridge Inc. will host its annual investor conference on December 7, 2021, at 8:30 am ET, to discuss its strategic plan, business unit priorities, and financial outlook. The conference will be webcast, with supporting materials available on Enbridge's website following the event. A replay of the webcast will be accessible by 4:00 pm ET on the same day. Enbridge is a major North American energy infrastructure company, managing significant pipelines and renewable energy assets.
Enbridge and Capital Power announced a memorandum of understanding to collaborate on carbon capture and storage (CCS) solutions in the Wabamun area, Alberta. The project aims to capture up to 3 million tonnes of CO2 annually from Capital Power's Genesee Generating Station, which produces over 1,200 megawatts of electricity. Enbridge will manage the transportation and storage of CO2, pending government approvals. The proposed carbon hub project could start operations by 2026, enhancing the region's sustainability efforts.
Enbridge Inc. responded to the Canada Energy Regulator's (CER) decision on Nov 26, 2021, denying its application for firm service contracting on the Canadian Mainline system. Despite recognizing the value of firm service, the CER found potential inequities in the proposal. Enbridge plans to engage stakeholders to negotiate a new commercial framework and may prepare a Cost of Service application if a new agreement is not achievable. The company expects strong throughput and positive financial outcomes in the coming years.
Enbridge Inc. (TSX: ENB, NYSE: ENB) announced a decision from the Canada Energy Regulator (CER) regarding its commercial proposal for transportation contracting on its Mainline pipeline system, which transports 3 million barrels of liquids daily. This proposal, submitted in December 2019, received support from over 75% of Mainline shippers by volume. Enbridge is currently reviewing the CER's decision and will comment further after the review is complete.
Enbridge reported Q3 2021 financial results, highlighting GAAP earnings of $682 million ($0.34/share), down from $990 million ($0.49/share) in 2020. Adjusted earnings rose to $1.2 billion ($0.59/share), up from $1.0 billion ($0.48/share). EBITDA improved to $3.3 billion, while cash flow from operations was $2.2 billion. The company reaffirmed its full-year EBITDA guidance of $13.9 billion to $14.3 billion. Key developments included completion of the Line 3 Replacement Project and expansion of its Southern Access capacity, enhancing crude oil supply capabilities.
Enbridge Inc. announced the appointment of Gaurdie Banister and Jane Rowe as new directors, effective November 4, 2021. Banister brings over 40 years of energy sector experience and previously served as CEO of Aera Energy LLC. Rowe is Vice Chair of Investments at the Ontario Teachers' Pension Plan Board and has significant banking experience from her time at Scotiabank. The Board welcomes their expertise, expecting valuable contributions to the company.
The Board of Directors of Enbridge has declared a quarterly dividend of $0.835 per common share, set to be paid on December 1, 2021, to shareholders on record by November 15, 2021. This dividend aligns with the amount declared in September 2021. Additionally, several preferred share dividends were also announced, all scheduled for payment on the same date. Key amounts include $0.34375 for Preference Shares, Series A and US$0.30540 for Preference Shares, Series J. This consistent dividend signals the company’s commitment to returning value to shareholders.
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