Enbridge Companies


2016 Annual Review | Investment Proposition | Letter to Shareholders | Shareholder Information


2016 Annual Review

A low-risk business model delivering reliable, predictable cashflows and stable dividend growth to our investors

The Fund Group
  • Holds a diversified portfolio of strategically positioned energy infrastructure assets with low-risk business models
  • Pays distributions to its unitholders (ENF and Enbridge Inc.)
  • Is managed by Enbridge Inc., North America's largest energy infrastructure company
ENF Holdings
  • Publicly traded company (ENF.TO)
  • Receives cash flow through ownership interest in the Fund Group
ENF Shareholders
  • Receive stable and predictable dividends
  • 10 percent expected dividend growth annually through 2019
  • Low-risk investment
 
2016 Annual Review (PDF)

  1. The Fund Group is comprised of the Enbridge Income Fund (the Fund) and its direct and indirect investees, Enbridge Commercial Trust (ECT) and Enbridge Income Partners LP (EIPLP), which holds the operating assets through its subsidiaries and investees.
  2. ENF’s business is limited to its ownership interest in the Fund. At December 31, 2016, ENF held 56.9 percent of the issued ordinary trust units (Fund Units) in the Fund and an approximate 16.4 percent overall economic interest in the Fund Group. ENF’s corporate structure is discussed in greater detail in Enbridge Income Fund Holding's Financial Statements and Management’s Discussion and Analysis available at enbridgeincomefund.com/report-delivery



High-Quality Assets

Fund Group Current Assets Map

 

A Premier Canadian Energy Infrastructure Vehicle

ENF is a premier Canadian energy infrastructure investment vehicle for those seeking predictable and growing dividend income from a diversified portfolio of high-quality liquids pipelines, natural gas transmission and renewable power generation assets. The ENF business is specifically designed to perform predictably and consistently in all market conditions, and has produced a consistent track record of increasing dividends for shareholders. Since 2006, the Company's annual dividend has increased by 120 percent.

This growth has been achieved organically through extension and expansion of existing assets and through of additional low-risk energy infrastructure from Enbridge Inc. These assets, held in the Fund Group, play a critical role in fueling the quality of life for millions of people, every day. The Company's low-risk business model is supported by solid business fundamentals; minimal direct exposure to commodity prices and interest and foreign exchange rates; and long-term commercial agreements with strong creditworthy counterparties.

On the strength of the Fund Group's existing assets and commercially secured growth projects, ENF is expected to deliver dividend increases of 10 percent annually through 2019.

“The ENF business is designed to perform predictably and consistently in all market conditions. Our low-risk business model—which is underpinned by solid business fundamentals; minimal exposure to commodity prices and interest and foreign exchange rates; and long-term commercial agreements with strong creditworthy counter parties—has produced a consistent track record of results for our shareholders.”

–Perry Schuldhaus, President,
Enbridge Income Fund Holdings Inc.


 

Dividend Reinvestment Plan (DRIP)

An Efficient Way to Invest

ENF offers a dividend reinvestment plan through which shareholders can automatically reinvest cash dividends into additional ENF shares at a two-percent discount to the market price. DRIP participants are also eligible to purchase up to an additional $20,000 in ENF shares without incurring brokerage fees.

The DRIP allows our shareholders to cost-effectively increase their holdings in ENF, and it provides us with an additional source of funds for investment in the Fund on an ongoing basis.

For more information on the DRIP and how to enroll, please visit enbridgeincomefund.com/DRIP

Pipes

 


2016 Annual Review | Investment Proposition | Letter to Shareholders | Shareholder Information