Does the Dividend Reinvestment and Share Purchase Plan (the Plan) provide a discount on the purchase of common shares of Enbridge?
Effective with dividends payable on March 1, 2008, participants in the Enbridge Inc. Dividend Reinvestment and Share Purchase Plan will receive a two per cent discount on the purchase of common shares with reinvested dividends. The price of the common shares purchased on behalf of Plan participants with reinvested dividends will be 98% of the weighted average of the trading prices for common shares on The Toronto Stock Exchange on the five trading days preceding a dividend payment date. Enbridge reserves the right to amend or cancel the discount at any time. The discount will not apply to the purchase of common shares with optional cash payments under the Plan. Optional cash payments of up to $5,000 Canadian per quarter will be used to purchase common shares under the Plan at a price equal to 100% of the weighted average of the trading prices for common shares on The Toronto Stock Exchange on the five trading days preceding a dividend payment date.
