Enbridge Preferred Shares Press Release Summaries
This page contains Enbridge Preferred Shares Press Release Summaries. Click on the Press Release Date to view the entire news release.
| Headline: | Michigan Governor’s Attempt to Revoke Line 5 Easement is Unlawful and Ignores Science and Evidence |
| Press Release Date: | January 12, 2021 |
| Excerpt from Press release: |
CALGARY, AB and LANSING, Mich., Jan. 12, 2021 /CNW/ – Today Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the company) responded to Michigan Governor Gretchen Whitmer’s attempt to terminate an easement that has been in place since 1953 and thereby close Enbridge’s Line 5 dual pipelines located in that easement. Line 5 enables the safe transport of fuel to heat homes and provides energy to Michigan, neighboring U.S. states and Canada’s two largest provinces. In a letter responding to the State’s November 13 notice, Vern Yu, Enbridge Executive Vice President and President, Liquids Pipelines, wrote, “Our dual lines in the Straits are safe and in full compliance with the federal pipeline safety standards that govern them.” Both lines were reviewed and approved for operation by the Pipeline and Hazardous Materials Safety Administration (PHMSA) back in June and September of 2020. |
| Symbol: | ENB.PF.G – Series 15 |
| Reset Date: | September 01, 2020 |
| Press Release Date: | August 04, 2020 |
| Yield: | 2.983% |
| Annual Dividend: | $0.74575 |
| Excerpt from Press release: | With respect to any Series 15 Shares that remain outstanding after September 1, 2020, holders thereof will be entitled to receive quarterly fixed cumulative preferential cash dividends, as and when declared by the Board of Directors of Enbridge. The new annual dividend rate applicable to the Series 15 Shares for the five-year period commencing on September 1, 2020 to, but excluding, September 1, 2025 will be 2.983 percent, being equal to the five-year Government of Canada bond yield of 0.303 percent determined as of today plus 2.68 percent in accordance with the terms of the Series 15 Shares. |
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