Shares of Enbridge Inc. popped higher in early trading after the company announced plans to raise its dividend, issue shares and sell off at least $3 billion in assets next year.
The stock was up $2.72 or about six per cent at $48.47 in trading on the Toronto Stock Exchange Thursday morning.
In a strategic update after markets closed Wednesday, the Calgary-based pipeline company said it has identified $10 billion of what it describes as non-core assets.
The company also announced Wednesday a private placement of $1.5 billion in common shares and plans to issue an additional $4 billion of