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Enbridge Names New Directors To Its Board; Reiterates FY19, FY20 Outlook

While reporting its fourth-quarter financial results on Friday, Enbridge Inc. (ENB,ENB.TO) said its board of directors has appointed Teresa Madden and Susan Cunningham as Directors of Enbridge.

Madden has more than 30 years of power and utility industry experience, most recently as the former Executive Vice President and Chief Financial Officer of Xcel Energy, Inc., an electric and natural gas utility. She brings extensive industry, business and financial experience to the Board. Madden is currently a director of Peabody Energy Corp.

Cunningham has more than 35 years of oil and gas industry experience in various executive leadership positions, most recently as former Executive Vice President of Noble Energy, Inc., an independent oil and natural gas exploration and production company. She brings extensive industry, technical and business experience to the Board. Cunningham is currently a director of Oil Search Ltd.

Looking ahead, Enbridge further reiterated its guidance for the mid-point of the projected range of 2019 and 2020 Distributable Cash Flow or DCF per share of $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 percent to 7 percent.

For 2019, Enbridge had earlier announced a 10 percent dividend increase and anticipates another 10 percent 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.

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