Enbridge Inc. announced its guidance range for 2016 Adjusted Earnings Before Interest and Taxes of between $4.4 billion and $4.8 billion company wide.
“We are entering 2016 well positioned to execute on our five-year strategic plan,” said Monaco. “Our plan includes a $38 billion growth program, $25 billion of which is commercially secured and in execution.”
That plan is expected to generate compound average per share growth of 15 to 18 per cent through 2019 according to Enbridge, while it expects dividend payments to shareholders to grow by 14 to 16 per cent during that time.
Enbridge is also cranking up its quarterly dividend payout to shareholders payable Mar. 1. The Calgary-based company is boosting its dividend payments by 14 per cent to $0.53 per common share up from $046.5.
“The 14 per cent dividend increase reflects the confidence we have in our outlook,” said Al Monaco, President and Chief Executive Officer. “Over the last two years, we have increased our dividend by over 50 per cent while maintaining strong available cash flow overage.”
The company posted a $609 million net loss in the third quarter.
