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  5. ENB: How do you calculate the payout ratio for Enbridge? [Enbridge Inc.]
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Q: How do you calculate the payout ratio for Enbridge?Some sources have it as high as 140%.
Asked by Maurice on January 15, 2026
5i Research Answer:

We use operating cash flow as a metric for payout ratios. Earnings have lots of non-cash charges which can impact the ratio, but dividends are paid with cash. 12-month operating cash flow was $13.49B, dividends were $8.6B, for payout ratio of 64%.