This 5.7%-Yielding Stock Just Joined an Elite Group
Enbridge (NYSE: ENB) announced its 2020 financial guidance this week. One of the highlights was that it plans to increase its dividend by another 9.8% next year. It will mark the energy company's 25th consecutive year of raising its payout. That puts it into an elite class as that's one of the main characteristics of a Dividend Aristocrat.
With that raise, Enbridge's dividend yield will go up from its currently well-above-average level of 5.7% to an even more attractive 6.3%. Not only is that a sustainable level for the company, but it should continue to grow at a healthy rate for the next several years.
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Source Fool.com
