RE:Which dividend is preferred?both companies dividend payouts are over 100%, my opinion only here but Bell and basically the telecom sector won't see high growth as the Canadian market is pretty mature. Lower rates will help Bell and its debt obligations.
ENB will also benefit from lower rates, even though building new pipelines in Canada is almost impossible they have diversified into other sectors ( wind, storage both oil and carbon) which should give more growth oppertunities compared to Bell.
I hold both but see higher dividend growth potential from ENB as they are not confined to Canadian market.