The Canadian natural gas distribution company has finalized its strategic plan and outlook following its merger with Houston-based Natural gas transmission company Spectra Energy in February.
Shares of Enbridge were higher over 4.5% in midday trading on Thursday.
Among the announcements made, Enbridge has identified $10 billion of "non-core assets" that it plans to sell or monetize a minimum of $3 billion in 2018.
The company also said it would raise C$1.5 billion by selling new shares to pay down debt, and located C$22 billion worth of projects it intends to finalize through 2020.
Enbridge also raised its dividend by 10% for 2018.
"With the Spectra Energy assets now in the fold, we will focus our attention on what we do best and the value proposition that has served shareholders well over the years," said Al Monaco, President and CEO of Enbridge. "Through this review, we've identified a total of $10 billion of assets that are non-core to Enbridge. In 2018, at least $3 billion of certain unregulated gas midstream and onshore renewables businesses will be sold or monetized."
More of What's Trending on TheStreet: