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Enbridge shareholders approved all major resolutions at the 2026 annual meeting, including re-electing all 12 incumbent directors, reappointing PwC as auditor, approving executive pay, and renewing the Shareholder Rights Plan.
CEO Greg Ebel said Enbridge posted record 2025 results, beating the midpoint of EBITDA and distributable cash flow guidance for the 20th straight year, while also raising its dividend for 2026 by 3% for a 31st consecutive annual increase.
The company highlighted a massive CAD 39 billion growth pipeline across natural gas, liquids and renewables, including new projects tied to LNG, data centers and power demand, plus continued expansion in pipelines, utilities and solar.
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Enbridge (NYSE:ENB) shareholders approved all resolutions presented at the company’s 2026 annual general meeting, including the re-election of all 12 incumbent directors, the reappointment of PricewaterhouseCoopers LLP as auditor, an advisory vote on executive compensation and the renewal of the company’s Shareholder Rights Plan.
Steven W. Williams, chair of Enbridge’s board, presided over the formal portion of the meeting, his first annual general meeting as chair. Williams said he remained committed to “strong governance, strategic oversight, and delivering long-term value for our shareholders.”
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David Taniguchi, Enbridge’s vice president, legal and corporate secretary, said 5,230 proxies had been received, representing 1,424,254,891 shares, or 65.26% of shares outstanding as of March 9, 2026.
The company said each of the 12 directors standing for re-election was elected with at least 95.03% of votes cast. The nominees were Mayank M. Ashar, Gaurdie E. Banister Jr., Susan M. Cunningham, Gregory L. Ebel, Jason B. Few, Douglas L. Foshee, Theresa B.Y. Jang, Teresa S. Madden, Manjit Minhas, Stephen S. Poloz, S. Jane Rowe and Steven W. Williams.
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Shareholders also approved the appointment of PricewaterhouseCoopers LLP as Enbridge’s auditor, with directors authorized to fix auditor remuneration. The resolution received at least 91.89% support. Williams said PwC has served as Enbridge’s auditor for the past 32 years.
The non-binding advisory vote on Enbridge’s approach to executive compensation was approved by at least 95.58% of votes cast. Shareholders also approved the resolution to ratify, confirm and approve the company’s Shareholder Rights Plan, with at least 95.82% support. Williams said the plan is confirmed by shareholders every three years and that there were “no substantive changes” to the plan for 2026.
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Greg Ebel, Enbridge’s president and chief executive officer, told shareholders the company entered 2026 “in a position of strength,” citing resilient operations, a diversified energy asset base and what he called record financial results in 2025.
Ebel said Enbridge exceeded the midpoint of its 2025 guidance for both EBITDA and distributable cash flow per share, marking the company’s 20th consecutive year of meeting or exceeding financial guidance. He also noted that Enbridge sanctioned its 31st consecutive annual dividend increase in December, raising the dividend by 3% for 2026.
Enbridge maintained leverage within its targeted debt-to-EBITDA range of 4.5 to 5 times, Ebel said, which he described as supporting the company’s investment-grade credit profile and investment capacity.
During 2025, Ebel said Enbridge sanctioned CAD 14 billion of new projects and placed CAD 5 billion of assets into service across its portfolio. He said the company is advancing a CAD 39 billion project portfolio through the end of the decade across natural gas, liquids and renewable power.
In Enbridge’s Gas Transmission and Midstream business, Ebel said the company announced CAD 4 billion in newly secured projects tied to rising LNG, data center, power and industrial demand. He also highlighted an Indigenous partnership with 38 First Nations in British Columbia for a 12.5% stake in the Westcoast system, valued at CAD 715 million.
On the liquids side, Ebel said Enbridge’s Mainline delivered record annual throughput in 2025. He said the company sanctioned approximately CAD 5 billion of new liquids pipeline projects to meet growing demand and support customer service.
Ebel described Enbridge’s gas utility business as the largest in North America, serving more than 7 million customers. He said the business is positioned to benefit from gas-fired power and data center growth, with more than 50 potential projects, along with residential and commercial demand opportunities.
In renewable power, Ebel said Enbridge completed the Orange Grove Solar project and sanctioned Clear Fork Solar. He said those projects are backed by long-term agreements with customers including Meta and AT&T.
Ebel framed the company’s outlook around geopolitical uncertainty, growing global energy demand and the need for reliable infrastructure. He said conflict and instability in the Middle East and elsewhere have contributed to significant supply disruptions and reinforced the importance of North American energy reliability.
He outlined three themes shaping the sector: North American energy security and reliability as an advantage, the growing relevance of building infrastructure, and rising energy demand from artificial intelligence, data centers, electrification and developing economies.
“The world needs more energy, and we believe that means more oil, more natural gas, more renewables, more of everything,” Ebel said.
During the question-and-answer session, Jason Alsop, president of the Council of the Haida Nation and vice president of the Coastal First Nations Great Bear Initiative, asked about oversight related to a proposed crude oil pipeline through Northwestern Canada and the Oil Tanker Moratorium Act. Alsop said the Haida Nation does not support the proposed oil pipeline and said “no offer of equity or ownership” would change its position.
Ebel responded that Enbridge is “not a proponent of this pipeline” and added that “nobody is at this point in time,” because conditions do not exist to commercialize such a proposal.
Ebel said Enbridge is sensitive to the risks raised and takes stakeholder rights and obligations seriously, including those involving First Nations. He said any project would go through Enbridge’s board and committee structure, including the Sustainability Committee and the Audit, Finance & Risk Committee, before moving forward.
“Only in that situation would we move forward,” Ebel said, adding that Enbridge has a “robust process” to ensure it meets its obligations.
Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.
The company serves customers primarily in Canada and the United States and has interests in other international energy projects.
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The article "Enbridge Shareholders Back Board as CEO Touts Record 2025, $39B Growth Pipeline" was originally published by MarketBeat.
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