Tuesday, December 3rd the Board of Directors of Enbridge Inc. (ENB) announced a quarterly dividend increase of from C$ 0.9150 to C$ 0.9425 per share that’s payable March 1, 2025 to holders of record February 14, 2025. This represents a 3.01% increase over the last quarterly dividend.
With current price C$61.59 (today's open), this raise brings their dividend yield to 6.12%.
Enbridge is a member of Canadian Dividend All Star List with a 29 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 3.2, 3.1, 5.8 and 10.9 (Canadian Dividend All-Star List)
Since I own 225 shares of ENB, this will increase my portfolio's projected annual net dividend income by $13.11.
I was expecting a slightly higher increase, about 5%, but I can live with this as well.
This is the eigth dividend increase I received from ENB since initiating a position in May 2017. During this period, the quarterly dividend has risen moderately from $0.61 to $0.9425, or 54.5%.
This increase raises my YOC to 8.18%.
Summary of 2024 Dividend Increases / Cuts
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You can follow the development of my dividends here.
Full Disclosure: Long ENB
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