Prospectus excerpt: Enbridge Inc. (the “Corporation”) is hereby qualifying the distribution (the “Offering”) of 16,000,000 cumulative redeemable preference shares, Series 1 (“Series 1 Shares”) of the Corporation at a price of US$25.00 per Series 1 Share. See “Details of the Offering” and “Plan of Distribution”.
The holders of Series 1 Shares will be entitled to receive, as and when declared by the board of directors of the Corporation (the “Board”) out of moneys of the Corporation properly applicable to the payment of dividends, fixed, cumulative, preferential cash dividends for the initial period from and including the date of issue of the Series 1 Shares to but excluding June 1, 2018 (the “Initial Fixed Rate Period”), at an annual rate of US$1.00 per Series 1 Share, payable quarterly on the first day of March, June, September and December in each year (less any tax required to be deducted and withheld by the Corporation). If any such date is not a business day, the dividend will be paid on the next succeeding business day. Assuming an issue date of March 27, 2013, the first dividend, if declared, will be payable June 1, 2013 in the amount of US$0.1808 per Series 1 Share.