This 7.3%-Yielding Dividend Stock Remains an Excellent Income Investment
Enbridge (NYSE: ENB) has an exceptional history of paying dividends. The Canadian pipeline and utility giant has increased its payout for 28 straight years. Fueling that steady growth is Enbridge's ability to expand its network of income-producing energy infrastructure assets.
The company remains an excellent option for income-seeking investors. That was clear again this quarter as it produced steady results and continued making progress in securing new sources of earnings growth.
Enbridge generated 2.8 billion Canadian dollars ($2.1 billion) of distributable cash flow during the second quarter, a 1% increase from the prior-year period. That kept the company on track to achieve its full-year guidance, which would see cash flow rise by as much as 4% this year. The company is doing an admirable job navigating a few headwinds this year, including higher interest rates and lower commodity prices.
Source Fool.com
