Enbridge Announces Renewal of NCIBI like an NCIB in the company tool kit whether it is used or not just in case.
I have to say that I would have liked to see a lower average buy price.
Something lower than the current trading price would have been nice.
It would be good to set a floor on the trading price.
Perhaps ENB will take advantage of the one year grace period in the 2% buyback tax taking effect in 2024. Perhaps that was why the dividend bump was lower.
O&G prices seem to be running lower but not demand.
Inventories are low and the SPR release just finished and Freeport LNG just starting.
Go Enbridge! ;-)
"Pursuant to its existing NCIB, under which the Company has approval from the TSX to purchase up to 31,062,331 of its outstanding common shares during the period from January 5, 2022 to January 4, 2023, Enbridge has purchased 2,737,965 common shares on the TSX, NYSE and alternative trading systems at a weighted average purchase price of CAD$54.90 per common share."