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Enbridge's Financial Guidance for 2026

In a significant announcement on December 3, 2025, Enbridge Inc. revealed its financial projections for 2026, showcasing a strong commitment to growth and shareholder value. The company reported that it will increase its quarterly common share dividend by 3% from $0.9425 to $0.97, marking its 31st consecutive annual dividend increase.

Key Highlights

Enbridge's forecast includes adjusted earnings before interest, income taxes, and depreciation (EBITDA) guidance of CAD 20.2 billion to CAD 20.8 billion. Moreover, the company's distributable cash flow (DCF) per share is projected to be between CAD 5.70 and CAD 6.10. These figures indicate a robust growth trajectory, supported by new projects and improved asset utilization.

President and CEO Greg Ebel expressed optimism about the company’s outlook, noting that 2026 will be driven by strong performance from new projects alongside effective management of existing assets. Enbridge anticipates approximately CAD 8 billion in new projects coming online in 2026, mostly backed by low-risk commercial frameworks.

Detailed Financial Outlook

The company anticipates that the strong earnings will stem from various sectors: liquids pipelines are expected to generate nearly CAD 9.6 billion, while gas transmission is forecasted to contribute around CAD 5.5 billion. The gas distribution and storage segment is predicted to bring in around CAD 4.5 billion. Furthermore, renewable power generation is estimated at around CAD 700 million, despite the absence of investment tax credits for certain projects.

Enbridge projects that its EBITDA growth will reflect a compound annual growth rate (CAGR) of 7-9% between 2023 and 2026. Following this period, the company expects growth to stabilize at roughly 5% for EBITDA, adjusted earnings per share (EPS), and DCF per share post-2026.

Dividend Increase and Financial Health

The dividend increase to CAD 0.97 per common share, effective March 1, 2026, underscores Enbridge’s robust cash flow generation capabilities. This adjustment not only showcases the company’s commitment to returning value to shareholders but also cements its status as a dividend aristocrat within its industry.

Investing for the Future

Enbridge plans to invest approximately CAD 10 billion in capital growth throughout 2026. This investment is directed toward enhancing infrastructure and expanding its operational footprint in North America and Europe. The company expects to maintain its strong balance sheet with a debt-to-EBITDA ratio anticipated to remain within the 4.5-5.0x range.

Ebel also emphasized Enbridge's commitment to modernizing its energy delivery systems while focusing on sustainable energy solutions, such as hydrogen and renewable natural gas.

Conclusion

As Enbridge looks forward to 2026, its strong financial guidance, along with a continued commitment to dividend growth and capital investment, reflects a strategic focus on maximizing shareholder value while adapting to the evolving energy landscape. The company aims to assure investors of its financial health and sustainable growth through an unwavering focus on operational efficiency and innovative solutions.

For more information about Enbridge and its investor relations, visit Enbridge's official website.