Douglas Foshee joins Enbridge Board as the company increases dividends and forecasts growth
Enbridge Inc. has released its financial guidance for 2025, projecting adjusted earnings before interest, income taxes, and depreciation (EBITDA) between $19.4bn and $20bn.
This represents a nine percent increase from the midpoint of its 2024 guidance, as reported by BNN Bloomberg. The company also anticipates distributable cash flow per share in the range of $5.50 to $5.90 for next year.
These forecasts are based on strong utilization across its businesses, contributions from growth projects completed in 2024, and partial-year earnings from projects expected to begin operations in 2025.
Effective March 1, Enbridge will increase its quarterly dividend to 94.25 cents per share, up from 91.5 cents per share, resulting in an annualized dividend of $3.77 per share.
This translates to an annual yield of about 6.2 percent, based on the company’s share price as of Monday.
In other updates, Enbridge’s Board of Directors has appointed Douglas Foshee as a director, effective January 1, 2025.
Foshee brings over four decades of energy industry experience, having previously held the positions of chair, president, and CEO of El Paso Corporation, CFO and COO of Halliburton Company, and chair, president, and CEO of Nuevo Energy.
Pamela Carter, chair of the Board of Directors, commented, “On behalf of the Board of Directors of Enbridge, we are very pleased to welcome [him] to the Enbridge Board. He has extensive energy industry and business experience and will be an excellent addition to our Board.”
