The company declared a dividend of 35 cents per share, payable March 1, up from its earlier rate of 31.5 cents per share.
"This significant bump this year reflects confidence management and the board have in the earnings growth we expect over the five year planning horizon," CEO Al Monaco told a conference call Wednesday.
Enbridge said it expects adjusted earnings per share next year to come in at $1.84 to $2.04 per share.
This year's earnings are expected to fall within its $1.74 to $1.90 per share range.
"On balance, we should be inside the original guidance range, but now toward the bottom end of that range," said chief financial officer Richard Bird.
Enbridge had already signalled during its third-quarter conference call that it would be unlikely to reach the upper end of its 2013 guidance rang.
Headwinds — such as refinery issues — have intensified since then. At the same time, tailwinds — such as Enbridge's gas distribution and energy services businesses — were "less favourable," said Bird.