Enbridge reported second-quarter earnings per share of CA$0.64, down 36% year over year, as its heavy debt load weighed on net earnings. However, distributable cash flow, which supports its 5.41% dividend yield, rose 35.2% to CA$2.9 billion. The company has a secured capital backlog of CA$41 billion and has sanctioned up to CA$20 billion in projects through the end of the decade, including data center and renewable energy developments. Enbridge expects annual distributable cash flow between $20.2 billion and $20.8 billion, with per-share guidance of $5.70 to $6.10. The company has increased its dividend for 31 consecutive years and maintains a payout range of 60% to 70% of distributable cash flow.
Enbridge IncDistributable cash flow surged 35% and dividend guidance raised, supporting the yield.
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