Enbridge boosts dividend 11% to 35c per share Enbridge announced that its board of directors has declared a quarterly dividend of 35c per common share, payable on March 1 to shareholders of record on February 14. The dividend reflects an 11 % increase from the prior quarterly rate.
Marathon Petroleum commits to Sandpiper Project Marathon Petroleum (MPC) and Enbridge Energy Partners (ENB) announced that MPC will serve as an anchor shipper for the Sandpiper Project. MPC will fund 37.5% of the construction of the Sandpiper Project, which will become part of Enbridge Energy Partners' North Dakota System when it is completed. Sandpiper is targeted to be operational in early 2016. In exchange for MPC's commitment to participate in the open season for Sandpiper and its investment in this project, MPC will earn an approximate 27 percent interest in Enbridge Energy Partners' North Dakota System when Sandpiper is placed into service. MPC will also have the option to increase its ownership interest to 30 percent through additional investments in future system improvements. It will expand and extend the Bakken takeaway capacity of the North Dakota System by 225,000 bpd to a total of 580,000 bpd. The Sandpiper pipeline is currently estimated to cost approximately $2.6B.