Enbridge Hikes Dividend 12%

Firms are still raising dividends in this environment. This particular raise was from a company that you might expect to stand up well against a recession. Enbridge Inc. (ENB) is an energy delivery company that transports natural gas and crude oil, which are used to heat homes, power transportation systems, and provide fuel and feedstock for industries.

Enbridge hiked it's dividend by 12% last week citing expectations that it's 2009 earnings would come in at more than 20% 2008 levels. Enbridge is the main conduit for oil transportation to the United States from Canada. Here is a look at Enbridge's recent dividend activity:

2004 - $0.915
2005 - $1.04
2006 - $1.15
2007 - $1.23
2008 - $1.32
2009 - $1.48 EST

This represents a compounded annual growth rate of the dividend of 10.1%. Enbridge has paid dividends for 54 years, but it should be noted that their dividend was static between 1986 and 1995.

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