Enbridge has announced its 2024 financial guidance, excluding contributions from the gas utilities acquisitions announced in September 2023. The company expects its 2024 base business EBITDA to grow by more than 4% and its DCF to increase by approximately 3% compared to the midpoint of its 2023 guidance. Enbridge has also declared its 29th consecutive annual common share dividend increase, raising it by 3.1% to $0.915 per quarter ($3.66 annualized), effective March 1, 2024. The company has reaffirmed its 2023 full year guidance for EBITDA and DCF, inclusive of the recent share offering dilution.
Key Highlights:
- Enbridge’s 2024 base business EBITDA is expected to be between $16.6 billion and $17.2 billion.
- Enbridge’s 2024 DCF per share is expected to be between $5.40 and $5.80.
- Enbridge has increased its dividend by 3.1% to $0.915 per quarter ($3.66 annualized).
- Enbridge has reaffirmed its 2023 full year guidance for EBITDA and DCF.