This 7.5%-Yielding Dividend Stock Continues to Make Moves to Enhance the Safety of Its Income Stream
Enbridge (NYSE: ENB) already has one of the safest dividends in the energy patch. The energy-infrastructure giant arguably has the lowest-risk business model in the sector. It also has a very strong financial profile.
However, that hasn't stopped the company from further enhancing its dividend safety. It recently made another move to ensure its 7.5%-yielding dividend remains on rock-solid ground.
Enbridge has agreed to sell its 50% interest in the Alliance pipeline and 42.7% stake in the Aux Sable natural gas liquids (NGL) complex to fellow Canadian energy infrastructure company Pembina Pipeline. The deal will bring in 3.1 billion Canadian dollars ($2.3 billion) in cash. Pembina is the current operator of Aux Sable and Enbridge's partner on Alliance.
Source Fool.com
