Topic: How To Invest

Dividend Advisor Hotline – Friday, September 15, 2023

Article Excerpt

ENBRIDGE INC., $47.60, Toronto symbol ENB, remains a buy. The company operates pipelines that pump oil and natural gas from Western Canada to eastern Canada and the U.S. It also distributes gas to 3.8 million consumers in Ontario and Quebec. With the March 2023, payment, Enbridge raised your quarterly dividend by 3.2%. Investors received $0.8875 a share instead of $0.86. The new annual rate of $3.55 yields a high 7.5%. The company has now increased that annual payment each year for the past 28 years. Enbridge is now buying three regulated gas utility firms—which serve roughly 3 million customers in Ohio, North Carolina, Utah, Idaho and Wyoming—from Dominion Energy, Inc. (New York symbol D). The purchase will make Enbridge the largest gas utility in North America, delivering 9.3 billion cubic feet per day to about 7 million customers. The combined gas distribution business will get 51% of its earnings from Ontario followed by Ohio (20%), Utah/Wyoming/Idaho (18%), North Carolina (10%) and Quebec (1%). Enbridge will…