By Adriano Marchese

Enbridge has increased its quarterly dividend by 3.1%.

The Canadian energy pipeline company said Wednesday that its board has boosted the quarter dividend to 91.5 Canadian cents a share (67 cents).

On an annual basis, the increase equates to a dividend of C$3.66 a share.

The new dividend rate will be effective March 1 of next year.

Enbridge said the increase is consistent with its medium-term distributable cash flow outlook and in line with its dividend payout ratio within 60% to 70% of distributable cash flow.

Write to Adriano Marchese at

(END) Dow Jones Newswires

11-29-23 0752ET