Enbridge raises dividend 3% and issues 2026 financial guidance

Enbridge Inc. (NYSE: ENB) announced 2026 financial guidance and increased its quarterly common share dividend by 3% to $0.97 per share, effective March 1, 2026. The dividend increase represents the company's 31st consecutive annual increase.

The Calgary-based energy infrastructure company projected 2026 adjusted earnings before interest, income taxes and depreciation (EBITDA) of $20.2 billion to $20.8 billion and distributable cash flow per share of $5.70 to $6.10. These figures represent a 4% increase from the respective midpoints of 2025 guidance.

Enbridge expects approximately $8 billion of new projects to enter service in 2026 across its business segments. The company also anticipates growth from recent rate settlements and rate cases in its Gas Distribution and Gas Transmission divisions.

"We are forecasting another year of steady and predictable growth driven by new projects entering service, as well as strong utilization and optimization of existing assets," said CEO Greg Ebel in a statement.

The company reaffirmed its 2025 full-year guidance and expects to finish the year in the upper half of its EBITDA range of $19.4 billion to $20.0 billion. Enbridge also confirmed its 2023 to 2026 compound annual growth rate outlook of 7-9% for EBITDA, 4-6% for adjusted earnings per share, and approximately 3% for distributable cash flow per share.

For capital deployment, Enbridge plans to invest approximately $10 billion in growth capital in 2026, excluding maintenance capital. The company expects its debt-to-EBITDA ratio to remain within its target range of 4.5-5.0x by year-end 2026. The financing plan includes about $10 billion of debt issuances, with $5 billion designated for refinancing existing debt maturities.

Post-2026, Enbridge projects annual growth of approximately 5% for adjusted EBITDA, earnings per share, and distributable cash flow per share.

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