on Tuesday issued its financial outlook for 2022, set plans to buy up to C$1.5 billion in stock and increased its dividend. The Canadian fossil fuel pipeline company said it expects 2022 Ebitda of C$15 billion to C$15.6 billion and distributed cash flow of C$5.20 to $5.50 a share. Analysts currently expect 2022 Ebitda of C$15.5 billion and distributed cash flow of C$5.68 a share for Enbridge, according to a FactSet survey. The company continues to expect 2021 distributed cash flow per share of C$4.70 to C$5, compared to the analyst view of C$5.08 a share. Looking ahead, Enbridge expects 5% to 7% average annual distributed cash flow per share growth increases through 2024. The company increased its annual divided by 3% to C$3.44 a share, or C86 cents a share per quarter. Enbridge plans to spend C$1.1 billion on new capital projects. It also entered into a memorandum of understanding with Capital Power to develop a carbon capture and sequestration hub in Alberta. Enbridge shares rose 1.1% in pre-market trades. The company’s shares are up 18.4% in 2021, compared to an increase of 22.3% by the S&P 500.
Kanye West at an event announcing a partnership with Adidas on June 28, 2016 in Hollywood, California. Getty Images Sneaker...