07:49 AM EST, 12/03/2024 (MT Newswires) -- Enbridge ( ENB ) traded 0.8% higher at last look in New York premarket trading on Tuesday after raising its dividend and releasing 2025 financial guidance.

The company declared an annualized dividend of $3.77 per share, increasing 3% from the previous $3.66. The boost marked Enbridge's ( ENB ) 30th consecutive annual dividend increase.

Enbridge ( ENB ) also outlined a 2025 adjusted ebitda guidance of $19.4 billion to $20.0 billion and distributable cash flow (DCF) per share of $5.50 to $5.90.

The company reaffirmed its 2024 full-year guidance for ebitda and DCF per share, expecting to finish the year near the top end of the ebitda range of $17.7 billion to $18.3 billion, and around the midpoint for DCF per share.

Enbridge ( ENB ) also reaffirmed its 2023 to 2026 growth outlook of 7-9% for ebitda growth, 4-6% for adjusted EPS growth and 3% for DCF per share growth.

"Global oil consumption has rebounded to all-time highs and increasing natural gas demand is being driven by LNG growth, coal to gas switching and the rapid increase in electric power demand stemming from new datacenter developments," said Greg Ebel, Enbridge's ( ENB ) president and CEO. "Enbridge's ( ENB ) incumbent footprint across its four core businesses puts the Company in an unparalleled position to meet increasing conventional and new energy demand in North America and beyond."