This 6%-Yielding Dividend Stock Hits Its Target for the 19th Year in a Row
Enbridge (NYSE: ENB) operates a very predictable business. Its pipeline and utility assets generate very stable cash flow backed by long-term contracts and regulated cost-of-service frameworks. Its business is so stable that the Canadian energy infrastructure company has now achieved its annual financial guidance for 19 years in a row. That's impressive considering the conditions it faced during that period, which included a financial crisis, a commodity price collapse, forest fires in the heartland of Canada's oil industry, a global pandemic, and rising inflation. The company delivered strong results last year, taking advantage of a rare opportunity to acquire several high-quality U.S. natural gas utilities. It's in an excellent position to continue growing its earnings and cash flow. Because of that, investors can bank on Enbridge's 6%-yielding dividend.Continue reading
Enbridge (NYSE: ENB) operates a very predictable business. Its pipeline and utility assets generate very stable cash flow backed by long-term contracts and regulated cost-of-service frameworks.
Its business is so stable that the Canadian energy infrastructure company has now achieved its annual financial guidance for 19 years in a row. That's impressive considering the conditions it faced during that period, which included a financial crisis, a commodity price collapse, forest fires in the heartland of Canada's oil industry, a global pandemic, and rising inflation.
The company delivered strong results last year, taking advantage of a rare opportunity to acquire several high-quality U.S. natural gas utilities. It's in an excellent position to continue growing its earnings and cash flow. Because of that, investors can bank on Enbridge's 6%-yielding dividend.
