Enbridge to sell $3B in assets, compensate aloft dividends
Shares of Enbridge Inc. popped aloft in early trade after a association announced skeleton to lift a dividend, emanate shares and sell off during slightest $3 billion in resources subsequent year.
The batch was adult $2.72 or about 6 per cent during $48.47 in trade on a Toronto Stock Exchange Thursday morning.
In a vital refurbish after markets sealed Wednesday, a Calgary-based tube association pronounced it has identified $10 billion of what it describes as non-core assets.
The association also announced Wednesday a private chain of $1.5 billion in common shares and skeleton to emanate an additional $4 billion of hybrid bonds by a finish of 2018.
The moves follow Enbridge’s takeover of U.S.-based Spectra Energy progressing this year.
10% division increase
“With a Spectra Energy resources now in a fold, we will concentration a courtesy on what we do best and a value tender that has served shareholders good over a years,” Enbridge arch executive Al Monaco pronounced in a statement.
“We will justify a item brew to a pristine regulated tube and application business model, that emphasizes low risk businesses and clever expansion in a 3 climax valuables businesses: liquids pipelines and terminals, healthy gas delivery and storage and healthy gas utilities.”
Enbridge pronounced it will compensate out a quarterly division of 67.1 cents per common share, payable on Mar 1, 2018. The division represents a 10 per cent boost from a formerly quarterly rate.
The association also pronounced it expects to continue to grow a annual division by 10 per cent by 2020.
The association has an endless network of oil and healthy gas pipelines that boat about 65 per cent of Canadian wanton oil exports firm for a U.S.
- MORE BUSINESS NEWSÂ |Â Ottawa wants dispute fortitude row for Trans Mountain tube project
- MORE BUSINESS NEWSÂ |Â Alberta hits employers with heaviest fines in a nation when someone dies on a job
Article source: http://www.cbc.ca/news/canada/calgary/enbridge-shares-spectra-assets-sell-dividend-1.4426368?cmp=rss