After its recent price decline of 9%, I am adding Enbridge to both my Income and Growth model portfolios.
The stock provides an attractive 4.66% dividend yield at current prices.
More importantly, the company has a history of rising dividends and this trend is expected to continue with projected annual dividend growth of 10-12% for the next five years.
This dividend growth is predicated on rising operating cash flows from many new projects including its recent acquisition of Spectra Energy.
Spectra Energy will provide the combined company with a more diversified balance of crude oil and natural gas distribution.