Enbridge Secures C$11B of Projects, Ups Payout: report

Enbridge Inc (ENB.TO), which is around a $1 shy of a year high $36.89, is now working through $11 billion in commercially secured projects, Canada's largest oil pipeline company said on Wednesday as it raised its dividend by 15%, Reuters reported.

2012 adjusted earnings are forecast at C$1.58 to C$1.74 a share, said Enbridge, whose Northern Gateway oil pipeline proposal to Canada's Pacific Coast from Alberta is about to start regulatory hearings.

The company, best known as operator of the main export pipelines for Canadian crude oil, also said it expects to maintain an average annual growth rate in its earnings of 10% through 2015, Reuters said.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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