Enbridge Inc. (ENB, ENB.TO) said that it expects adjusted operating earnings of C$2.50 to C$2.70 per share for fiscal 2010, the midpoint of which represents about a 12% increase over 2009. Analysts polled by Thomson Reuters expect the company to report earnings of US$2.53 per share for the year. Analysts' estimates typically exclude special items.
Patrick Daniel, president and chief executive officer, Enbridge, said, "The anticipated increase in Enbridge's 2010 adjusted earnings remains in line with our longer term guidance of 10% average earnings per share growth in to the middle of the next decade."
In addition, the company said that its board has declared a quarterly dividend of C$0.425 per share payable on March 1, 2010 to shareholders of record on February 15, 2010. The dividend reflects a 15% increase from the company's prior quarterly rate of C$0.37 per share.
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