RE:RE:Enbridge's dividend is at riskDivysRock: author was referring to free cash flow of C$3.2 billion so he is correct in that the company is paying out more than the cash left over after capital investments. The remaining cash to cover the dividend came from something called "Net Other Investment Changes" of C$4.3 billion which are probably asset sales. They cite "distributable cash flow" of C$7.6 billion for the year which implies that the dividend outlay of C$3.48 billion is more than covered. The upgrade by Moody's shows they are proceeding in a fairly conservative fashion. As someone else pointed out, they've never cut the dividend. Much of their business is at regulated rates which guarantees a profit. A 6% yield for a conservative investors looks attractive.