CALGARY, ALBERTA--(Marketwire - Jan. 7, 2008) - Enbridge Inc. (TSX:ENB) (NYSE:ENB) announced today that participants in its Dividend Reinvestment and Share Purchase Plan (the Plan) will receive a two per cent discount on the purchase of common shares with reinvested dividends.
The discount is effective with dividends payable on March 1, 2008 and will continue until further notice. The price of the common shares purchased on behalf of Plan participants with reinvested dividends will be 98% of the weighted average of the trading prices for common shares on The Toronto Stock Exchange on the five trading days preceding a dividend payment date. Enbridge reserves the right to amend or cancel the discount at any time.
The discount will not apply to the purchase of common shares with optional cash payments under the Plan. Optional cash payments of up to $5,000 Canadian per quarter will be used to purchase common shares under the Plan at a price equal to 100% of the weighted average of the trading prices for common shares on The Toronto Stock Exchange on the five trading days preceding a dividend payment date.
Plan participants, and those interested in enrolling in the Plan, are advised to read the updated Plan information available at www.enbridge.com under Investor Relations.
About Enbridge
Enbridge Inc., a Canadian company, is a leader in energy transportation and distribution in North America and internationally. As a transporter of energy, Enbridge operates, in Canada and the U.S., the world's longest crude oil and liquids transportation system. The Company also has international operations and a growing involvement in the natural gas transmission and midstream businesses. As a distributor of energy, Enbridge owns and operates Canada's largest natural gas distribution company, and provides distribution services in Ontario, Quebec, New Brunswick and New York State. Enbridge employs approximately 5,500 people, primarily in Canada, the U.S. and South America. Enbridge's common shares trade on the Toronto Stock Exchange in Canada and on the New York Stock Exchange in the U.S. under the symbol ENB. Information about Enbridge is available on the Company's web site at www.enbridge.com.
Certain information provided in this news release constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast" and similar expressions are intended to identify such forward-looking statements. Although Enbridge believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of risks and uncertainties pertaining to operating performance, regulatory parameters, weather, economic conditions and commodity prices. You can find a discussion of those risks and uncertainties in our Canadian securities filings and American SEC filings. While Enbridge makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. Except as may be required by applicable securities laws, Enbridge assumes no obligation to publicly update or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise.
For more information please contact:
Enbridge Inc.
Jennifer Varey
Media
(403) 508-6563 or Toll free: 1-888-992-0997
Email: jennifer.varey@enbridge.com
or
Enbridge Inc.
Vern Yu
Investment Community
(403) 231-3946
Email: vern.yu@enbridge.com
Website: www.enbridge.com