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Enbridge Inc. Message Board

  • bluecheese4u bluecheese4u Feb 15, 2013 7:27 AM Flag

    Enbridge Reports 2012 Results

    Enbridge Reports 2012 Results

    February 15, 2013

    CALGARY, ALBERTA--(Marketwire - Feb. 15, 2013) -

    HIGHLIGHTS

    (all financial figures are unaudited and in Canadian dollars unless otherwise noted)

    Fourth quarter earnings were $146 million; earnings for the full year were $610 million
    Fourth quarter adjusted earnings were $0.42 per common share, or $327 million
    Full year adjusted earnings were $1.62 per common share, an 11% increase over 2011
    Enbridge plans to invest $6.2 billion in the Light Oil Market Access Program, a collection of projects anticipated to expand access to markets for growing volumes of North Dakota and western Canada light oil
    Enbridge announced the expansion of its Canadian Mainline system between Edmonton and Hardisty, Alberta at an approximate cost of $1.8 billion
    Enbridge and Energy Transfer Partners, L.P. agreed to the principal terms for joint development of a project to provide access to the eastern Gulf Coast refinery market
    Enbridge plans a further expansion of its mainline system between Hardisty, Alberta and Superior, Wisconsin, at an estimated cost of $0.6 billion
    Enbridge secured a 50% interest in development of the 150-MW Massif du Sud Wind Project with an expected investment of $0.2 billion, bringing interests in renewable and alternative energy capacity to more than 1,300 MW
    Enbridge to develop US$0.1 billion Heidelberg Lateral Pipeline in deep water Gulf of Mexico
    Guidance for 2013 adjusted earnings is $1.74 to $1.90 per common share
    The quarterly dividend increased by 12% to $0.315 per common share effective March 1, 2013
    An impairment charge of $105 million, net of tax, related to certain Offshore assets was recorded in the fourth quarter
    Enbridge Inc. (TSX:ENB) (NYSE:ENB) - "Enbridge finished 2012 with a solid fourth quarter and full year results that again achieved our guidance for the year," said Al Monaco, President and Chief Executive Officer. "For the three months ended December 31, 2012 adjusted earnings totaled $327 million, or $0.42 per common share. This brings our full year 2012 adjusted earnings to $1,249 million, or $1.62 per common share, an 11% year-over-year increase. This increase is particularly noteworthy in light of the significant prefunding which we completed in the year for future growth projects."

    enbridgeDOTcom/MediaCentre/NewsDOTaspx?yearTab=en2013&id=1687753

 
ENB
46.60+0.17(+0.37%)Nov 21 4:06 PMEST

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