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Enbridge Expects 2018 DCF/shr In Upper Half Of Guidance; Raises 2019 Dividend

Enbridge Inc. (ENB.TO,ENB) announced the company continues to expect 2018 DCF per share in the upper half of its guidance range of $4.15 to $4.45 per share. The 2019 and 2020 mid-point of the projected range of DCF is unchanged from last year at $4.45 per share and $5.00 per share, respectively. Beyond 2020, Enbridge is targeting to achieve annual DCF per share growth in the range of 5%-7%.

For 2019, Enbridge has announced a 10% dividend increase and anticipates another 10% increase for 2020. The 2019 quarterly dividend of $0.738 per share will be payable on March 1, 2019, to shareholders of record on February 15, 2019.

Also, Enbridge announced $1.8 billion of new accretive growth capital investments. The company will invest $600 million for a 22.75% interest in the Gray Oak Liquids Pipeline, which will deliver light crude oil from the Permian Basin to Corpus Christi and other markets. Enbridge will invest approximately $800 million on four Gas Transmission expansion projects coming into service in the 2020-23 timeframe. The company said it is acquiring existing liquids pipeline and terminal assets connected with Athabasca Oil Corporation's Leismer SAGD oil sands assets for $265 million.

Al Monaco, CEO of Enbridge noted: "Our strategic positioning as a low-risk regulated pipeline and utility business, combined with the strategic priorities we established last year, are bearing fruit. We will remain focused on these priorities while placing an even greater emphasis on capturing the very best of a large suite of potential organic growth opportunities that we see being driven by our great strategic position and excellent energy fundamentals, particularly growing energy exports from North America. We'll continue to apply the same type of discipline around capital allocation that we exercised this year. We'll also look to continue to optimize the performance of our core business."

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