Enbridge Inc, Canada's largest pipeline company, said it will transfer its Canadian liquids pipelines business and certain renewable energy assets to its Canadian affiliate Enbridge Income Fund Holdings Inc, and raised its quarterly dividend by a third. Enbridge said C$17 billion ($14.95 billion) of combined carrying value of assets will be transferred to the affiliate and it will retain operating responsibility for the liquids pipelines business."Our plan ... comes after an extensive review of the potential to further enhance the value of our $44 billion growth program and lower the cost of funding for that program and for new investment opportunities," Chief Executive Al Monaco said in a statement.Enbridge's Canadian liquids pipelines business comprises of Enbridge Pipelines Inc and Enbridge Pipelines (Athabasca) Inc.The company said it expects to complete the transfer of its Canadian business by mid-2015, subject to certain approvals.
Enbridge Inc. (Enbridge) transports and distributes energy across North America. Shares of ENB traded higher by 3.7% or $1.71/share to $47.88. In the past year, the shares have traded as low as $40.25 and as high as $51.95. On average, 1133970 shares of ENB exchange hands on a given day and today's volume is recorded at 1149767.
Enbridge Inc. (Enbridge) transports and distributes energy across North America. Shares of ENB traded higher by 3.5% or $1.84/share to $54.43. In the past year, the shares have traded as low as $43.00 and as high as $56.87. On average, 1520960 shares of ENB.TO exchange hands on a given day and today's volume is recorded at 1625017.
Enbridge Income Fund Holdings Inc. (ENF), through its investment in Enbridge Income Fund (the Fund), which is an unincorporated open-ended trust. Shares of ENF traded higher by 4.63% or $1.39/share to $31.38. In the past year, the shares have traded as low as $22.35 and as high as $32.85. On average, 224970 shares of ENF.TO exchange hands on a given day and today's volume is recorded at 367056.
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