Pipeline operator Enbridge Inc. reported a 23.2% jump in third-quarter profit on Nov. 5, boosted by a recovery in crude prices and fuel demand to pre-pandemic levels.
The Calgary-based company's adjusted earnings rose to C$1.2 billion (US$961.92 million), or 59 Canadian cents per share, in the quarter ended Sept.30, from C$961 million, or 48 Canadian cents per share, a year earlier.
Additionally, Enbridge appointed Gaurdie Banister and Jane Rowe as directors of Enbridge, effective November 4, 2021.
Banister has more than 40 years of experience within the energy sector, most recently as the CEO of Aera Energy LLC. Prior thereto, he had a long and successful career at Royal Dutch Shell, including various senior leadership roles between 1980 and 2007. Banister is currently a director of Tyson Foods and Dow Inc.
Rowe is a highly experienced executive with strong strategic business and financial skills, currently serving as vice chair, investments, of the Ontario Teachers' Pension Plan Board. She has extensive banking and corporate finance experience, having spent over 20 years at Scotiabank in various senior leadership roles. Rowe currently sits on the boards of TD Bank Group and Cadillac Fairview.
"On behalf of the Board of Directors of Enbridge, we are very pleased to welcome Gaurdie and Jane to the Enbridge Board. They each have extensive business experience and will be excellent additions to our Board. We look forward to their contributions," Greg Ebel, the chair of the Board of Directors of Enbridge, said.
($1 = 1.2475 Canadian dollars)
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