Enbridge secures C$11 billion of projects, ups payout

Wed Dec 7, 2011 4:43pm EST
 
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CALGARY, Alberta (Reuters) - Enbridge Inc ENB.TO is now working through C$11 billion ($10.9 billion) in commercially secured projects, Canada's largest oil pipeline company said on Wednesday as it raised its dividend by 15 percent.

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 percent through 2015.

($1=$1.01 Canadian)

(Reporting by Jeffrey Jones; editing by Rob Wilson)