US EditionEnbridge Provides Notice of Series 13 Preferred Shares Conversion Right and Announces Reset Dividend Rates
- Enbridge announced on May 2, 2025, from Calgary that holders of its 14,000,000 Series 13 Shares may convert them into Series 14 Shares from May 2 to May 20, 2025.
- This announcement follows the terms allowing conversion on June 1, 2025, as Enbridge will not redeem Series 13 Shares on that date.
- Starting June 1, 2025, and continuing until June 1, 2030, Series 13 Shares will carry a fixed annual dividend rate of 5.395 percent, which is set by adding 2.66 percent to the current yield on five-year Canadian federal bonds.
- Series 14 Shares issued on June 1, 2025, will pay quarterly floating dividends at a rate starting at 1.33841 percent for three months, based on recent treasury bill rates plus 2.66 percent.
- If fewer than 1,000,000 Series 13 Shares remain after June 1, 2025, Enbridge will convert all remaining shares into Series 14 Shares, affecting dividend entitlements and ownership structure.
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Enbridge Provides Notice of Series 13 Preferred Shares Conversion Right and Announces Reset Dividend Rates
CALGARY, AB, May 2, 2025 /PRNewswire/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) announced today that it does not intend to exercise its right to redeem its currently outstanding Cumulative Redeemable Preference Shares, Series 13 (Series…
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