Enbridge Inc. (ENB: Quote,ENB.TO: Quote) reported earnings attributable to common shareholders of C$335 million or C$0.44 per share for the fourth quarter compared to C$326 million or C$0.43 per share last year. Adjusted earnings for three-month period rose year-over-year to C$275 million or C$ 0.37 per share from C$238 million or C$0.32 per share.
Quarterly revenues climbed to C$5.44 billion from C$4.14 billion in the year-ago quarter.
Analysts polled by Thomson Reuters expected the company to earn C$0.39 per share on revenues of C$4.41 billion for the quarter. Analysts' estimates typically exclude special items.
Patrick Daniel, president and chief executive officer, Enbridge, said, "We remain confident that Enbridge can achieve an average annual growth rate in adjusted earnings per share of 10% through 2015, based on conservative assumptions for mainline throughput and future growth investment. In December 2011, we announced our 2012 guidance for adjusted earnings of $1.58 to $1.74 per share, the midpoint of which represents a 12% increase over 2011. Enbridge's Board of Directors also approved a 15% increase to the 2012 dividend. Enbridge has increased its dividend by an average of 13% per year over the last five years."
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by RTT Staff Writer
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