This Nearly 6%-Yielding Dividend Stock Has More Fuel to Keep Growing
Enbridge (NYSE: ENB) is one of the more prolific dividend stocks in the energy sector. The Canadian pipeline giant currently offers a dividend yield approaching 6%. Meanwhile, it has increased that payout for 27 straight years.
That big-time dividend seems likely to continue rising for several more years. Driving that view is the company's growing pipeline of expansion projects, which should boost its cash flow in the coming years.
Enbridge recently reported its second-quarter results. The Canadian pipeline company posted solid numbers, enabling it to reaffirm its full-year outlook. It also secured 3.6 billion Canadian dollars ($2.8 billion) of additional growth projects in the quarter. When added to the projects it secured in the first quarter, Enbridge has booked CA$4.5 billion ($3.5 billion) of commercially secured expansions this year.
Source Fool.com
