ENB - This 7.9%-Yielding Dividend Stock Is a Magnificent Option for Those Seeking Super-Safe Income
2024-03-01 06:16:00 ET
Enbridge (NYSE: ENB) has been a masterful dividend stock over the decades. The Canadian pipeline and utility company has paid dividends for nearly 70 years and has increased the payment for 29 straight years, growing it at an impressive 10% compound annual rate. While dividend growth has slowed in more recent years (it gave investors a 3.1% raise in 2024), it has plenty of power to continue increasing its payout in the future.
The energy infrastructure giant's dividend currently yields a monster 7.9%. That big-time payout is on an increasingly sustainable foundation, which makes it a fantastic option for those seeking a very bankable income stream.
Enbridge is a financial fortress that generates extremely durable cash flow. It gets 98% of its earnings from cost-of-service agreements or long-term contracts.
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This 7.9%-Yielding Dividend Stock Is a Magnificent Option for Those Seeking Super-Safe Income