Enbridge Inc. announced a 3 % increase to its common‑share dividend, raising the quarterly payment to $0.97 and the annualized amount to $3.88. The hike, the company’s 31st consecutive annual increase, will take effect on March 1 2026 for shareholders of record on February 17 2026. Alongside the dividend update, Enbridge issued its 2026 financial outlook, projecting adjusted EBITDA of $20.2‑$20.8 billion and distributable cash flow per share of $5.70‑$6.10.
The dividend move underscores Enbridge’s long‑standing commitment to returning value to shareholders and reinforces its status as a dividend aristocrat. The 3 % increase is modest but consistent with the company’s track record of annual growth, and it signals confidence in the firm’s cash‑flow generation even as it continues to invest heavily in infrastructure.
Enbridge’s 2026 guidance lifts both EBITDA and DCF per share relative to the upper half of its 2025 guidance. In 2025 the company forecasted EBITDA of $19.4‑$20.0 billion and DCF per share of $5.50‑$5.90. The 2026 outlook represents a 4 % rise in DCF per share from the 2025 midpoint and a 5‑10 % increase in EBITDA, reflecting expected growth from new projects and favorable rate settlements.
Management attributes the stronger outlook to approximately $8 billion of new projects entering service in 2026 across its franchises, including natural‑gas pipeline expansions in Tennessee and British Columbia. The company also expects continued benefit from recent rate settlements in its gas transmission and distribution segments, which will support higher utilization and margin stability.
Greg Ebel, President and CEO, emphasized that the dividend increase and guidance are underpinned by robust cash flows and a disciplined capital allocation strategy. He noted that Enbridge plans to deploy roughly $10 billion of growth capital in 2026, excluding maintenance, and that the company’s debt‑to‑EBITDA ratio is expected to remain within the 4.5‑5.0x target range, eliminating the need for external equity funding.
Analysts responded positively to the guidance. BMO Capital raised its price target to C$70.00 from C$67.00, citing the company’s steady growth and strategic investments, while RBC Capital increased its target to C$72.00. The guidance signals confidence in Enbridge’s ability to generate predictable cash flow and to execute on its expansion plans, reinforcing the company’s position as a leading North American energy infrastructure operator.
The dividend hike and updated guidance provide investors with a clearer view of Enbridge’s near‑term financial trajectory. The company’s focus on low‑risk commercial frameworks for new projects, combined with a strong balance sheet and disciplined capital allocation, suggests that Enbridge is well positioned to sustain dividend growth and support shareholder value over the next several years.
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