ENB - This 7.7%-Yielding Dividend Stock Is Adding Even More Fuel to Its Dividend Growth Engine
2024-03-07 06:23:00 ET
Enbridge (NYSE: ENB) has been one of the best dividend stocks in the oil patch throughout the years. The Canadian pipeline and utility company has increased its payout for 29 straight years. It currently boasts a 7.7% dividend yield, which is well above average.
That big-time payout should continue rising. One factor driving that view is the company's ability to continue expanding its portfolio of income-producing energy infrastructure assets. Enbridge recently added a few more projects to its portfolio, giving it more fuel for its dividend growth engine.
Enbridge recently enhanced its already solid long-term growth profile by making three new accretive capital investments to advance its U.S. Gulf Coast growth strategy. These new investments include:
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This 7.7%-Yielding Dividend Stock Is Adding Even More Fuel to Its Dividend Growth Engine