Enbridge Raises Dividend, Plans Share Buybacks as Profit Set to Rise

The company forecasted its 2022 EBITDA between C$15 billion and C$15.6 billion, higher than its 2021 expectations of C$13.9 billion to C$14.3 billion.

Arunima Kumar, Reuters

Enbridge Inc. raised its dividend and announced plans to buyback shares on Dec. 7, as the Canadian pipeline operator forecast higher core earnings in 2022 on rising demand for oil and gas.

Energy stocks have bounced back this year as investors are rewarding companies that are disciplined with their capital and as many North American energy firms are returning higher free cash flow to shareholders rather than investing in growth.

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