Enbridge Reports Record Q4 Earnings, Increases Dividend 30th Year

Enbridge Inc. reported a strong financial performance for the fourth quarter of 2024, with an adjusted profit of C$5.13 billion, up from C$4.1 billion in the previous year, driven by higher Mainline tolls and reduced power costs. The company's GAAP earnings were C$493 million, a decline from C$1.726 billion year-over-year, but still exceeded analysts' expectations of C$0.74 per share. Enbridge also announced an increase in its quarterly dividend by 3%, marking the 30th consecutive year of dividend growth. CEO Greg Ebel highlighted a historic year for the company, including a $19 billion acquisition of three U.S. gas utilities and achieving financial guidance for the 19th consecutive year. Enbridge reaffirmed its financial guidance for 2025 and noted ongoing efforts to expand its pipeline capacity. The overall results showcase Enbridge's robust operational model and commitment to delivering stable returns for shareholders.