We transport energy, operating the world's longest, most sophisticated crude oil and liquids transportation system. We have a significant and growing presence in the natural gas transmission and midstream businesses, and an increasing involvement in power transmission.
We generate energy, expanding our interests in renewable and green energy technologies including wind and solar energy and geothermal.
We distribute energy, owning and operating Canada's largest natural gas distribution company, and provide distribution services in Ontario, Quebec, New Brunswick and New York State. (Source : www.enbridge.com)
On September 1, I purchased 5.066 shares at a price of $52.31 for a total of $265.00. The dividend is also paid on September 1 also. I owned 7.143 shares prior to the dividend date and was paid a dividend of $3.33. These dividends were reinvested back into the same company. I acquired 0.065 shares at a price of $51.26.
The price of the DRIP shares is 2% discounted for shares acquired with reinvested dividends. Some brokers do pass this 2% discounted price on to investors while others do not. Other companies have bigger discounts through the transfer agent than this. My shares of Bank of Nova Scotia (BNS) is directly through the transfer agent. BNS use to have the a 2% discount on shares purchased with reinvested dividends but have stopped the discount within the last 2 years.
Enbridge is not an energy producer in terms of crude oil and natural gas. They are involved in the transportation of crude oil and natural gas. When someone's thermostat kicks in, the company is making money provided the house or building uses energy provided by their pipelines or renewable energy sources. ENB is currently paying a $1.862 per share annual dividend. So the 5.131 shares add $9.55 to my annual divided income.
I also own 33 shares of Enbridge (ENB) in my TFSA.
Disclosure: Long BNS and ENB (all accounts)
Photo credit: www.ecofitt.ca
I am not a financial planner, financial advisor, accountant or tax attorney. The information on this blog represents my own thoughts and opinions and should NOT be taken as investment or business advice.
Every individual should do their due diligence to make their own financial decisions based on their financial situation and tolerance for risk.