Dividend Champions List: Top 15

3. Enbridge Inc. (NYSE:ENB)

Dividend Yield as of September 24: 6.52%

Enbridge Inc. (NYSE:ENB) is a Canadian multinational pipeline and energy company. The company is in the final stages of acquiring three natural gas utilities in the US for US$14 billion. This acquisition will position Enbridge as the largest natural gas utility operator in North America. The demand for natural gas is projected to increase as power producers and technology firms incorporate gas-fired electricity generation to meet the growing needs of AI data centers and electric vehicles. With its extensive natural gas transmission and storage networks, along with the newly acquired utilities, Enbridge is well-positioned to capitalize on the rising usage of natural gas. The stock has surged by nearly 14% since the start of 2024.

In the second quarter of 2024, Enbridge Inc. (NYSE:ENB) reported revenue of $8.18 billion, which showed a 5% growth from the same period last year. The revenue also beat analysts’ estimates significantly by $4 billion. The company’s cash flow was also strong for the quarter. It generated $2.8 billion in operating cash flow and its distributable cash flow came in at $2.9 billion, which showed a 3% YoY growth.

Enbridge Inc. (NYSE:ENB) maintains a 29-year track record of consistent dividend growth, which makes it one of the best stocks on our dividend champions list. The company currently offers a quarterly dividend of C$0.915 per share and has a dividend yield of 6.5%, as of September 24.

With a collective stake value of over $2.2 billion, 32 hedge funds in Insider Monkey’s database owned positions in Enbridge Inc. (NYSE:ENB) in Q2 2024. Among these hedge funds, GQG Partners was the company’s leading stakeholder in Q2.