What is happening to ENB.TO and ENB?
Effective Friday, May 20th, the TSX-listed common shares of Enbridge Inc. (ENB.TO) will be split two for one. Effective Wednesday, June 1st, the NYSE-listed common shares of Enbridge Inc. (ENB) will be split two for one. Open orders for ENB.TO will be cancelled on Friday May 20th, and open orders for ENB will be cancelled on Wednesday June 1st.
The terms of the split are: holders of ENB.TO as of May 19th will receive 2 common shares for every 1 common share held. Holders of ENB as of May 31st will receive 2 common shares for every 1 common share held. For example, someone holding 10 shares would hold 20 shares once the split is completed.
How does this affect me?
Open orders for ENB.TO will be cancelled on Friday May 20th, and open orders for ENB will be cancelled on Wednesday June 1st. If you had an open order, you will need to enter a new one.
If you want to continue to hold shares of ENB.TO over the next two weeks you do not need to take any action. Your account will be fully updated to reflect the share split.
If you want to continue to hold shares of ENB from Tuesday, May 31st through the following two or three business days you do not need to take any action. Your account will be fully updated to reflect the share split within two to three business days of the split.
If you want to close your position in ENB.TO on Friday, May 20th, or over the next two weeks, you will be able to sell the shares you held in your account prior to the split. If you want to sell any of the additional shares you will be receiving as a result of the split, please contact Questrade’s trade desk at: 1.866.980.9590. Delivery of the additional shares to your account will take up to two weeks since they cannot be delivered until the ENB split has occurred on June 1st.
If you want to close your position in ENB on Wednesday, June 1st or the following two to three business days, you will be able to sell the shares you held in your account prior to the split. If you want to sell any of the additional shares you will be receiving as a result of the split, please contact Questrade’s trade desk at: 1.866.980.9590. Delivery of the additional shares to your account will take two to three business days.
In your account, you may temporarily see a numbered symbol in place of the stock symbol for ENB.TO (on May 20th), or in place of the symbol for ENB (on June 1st). If you want to sell your position, and this numbered symbol appears in place of the stock symbol, please contact Questrade’s trade desk at: 1.866.980.9590.
Does this affect options?
Option symbols for ENB.TO and ENB will not change. Strike prices and number of contracts will be adjusted to reflect the two for one stock split.
If you have any questions about this stock split, please contact Questrade’s client services at 1.888.783.7866, or http://www.questrade.com/livehelp.