- Enbridge (NYSE:ENB) says it completed its strategic plan and growth outlook through 2020, and announces a 10% dividend increase for next year.
- ENB forecasts a strong business outlook through the three-year planning horizon, resulting in a three-year compound annual ACFFO/share and dividend growth of 10% through 2020, based on a $22B capital program during the period.
- ENB says it has identified $10B of non-core assets and intends to sell or monetize a minimum of $3B in 2018, and plans to accelerate deleveraging to further strengthen the balance sheet with a goal of reaching a debt/EBITDA ratio of 5x by year-end 2018.
- The company envisions a pure regulated pipeline and utility business model emphasizing low risk and strong growth in three core businesses: liquids pipelines and terminals, gas transmission, and storage and gas utilities.
- ENB also announces a $1.5B private placement common stock offering, with proceeds to be used to pay down short term debt pending investment in capital projects.
- Now read: Is Enbridge At Risk Of Becoming A Value Trap?
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