This 7.6%-Yielding Dividend Stock Showcases Why It's a No-Brainer for Income
Enbridge (NYSE: ENB) has paid one of the most durable dividends in the energy sector. The Canadian energy infrastructure giant is approaching its seventh decade of paying dividends. It has increased its payout annually for the last 28 years, a remarkable track record in the volatile energy sector.
The company's dividend (which yields a hefty 7.6% these days) remains on an extremely firm foundation. That was abundantly clear in its recent third-quarter earnings report. Because of that, it's a no-brainer for those seeking a durable income stream.
Enbridge generated 2.6 billion Canadian dollars ($1.9 billion) of distributable cash flow during the third quarter. That's up a solid 4% from the year-ago period. It pushed the company's year-to-date total to over CA$8.5 billion, or CA$4.20 per share ($6.2 billion or $3.07 per share).
Source Fool.com
