Unhedged energy companies will suffer: RBC
CALGARY - Enbridge Inc. is moving its annual meeting in May online because of concerns about the spread of novel coronavirus.
The Calgary-based energy company says the change for the May 5 event was made “out of an abundance of caution” and to mitigate risks to the health and safety of shareholders, employees and stakeholders.
In a letter to shareholders contained in a regulatory filing, Enbridge says shareholders will have an opportunity to ask questions and vote on important matters regardless of where they live.
The company also says it is working to increase its gender diversity with women comprising 42 per cent of its board and 28 per cent of all leadership roles.
Enbridge says president and CEO Al Monaco's total compensation increased 36 per cent to almost $18 million in 2019, up from $13.4 million a year earlier as all components increased.
The payout included $1.6 million in salary up from $1.48 million, $6.1 million in stock-based awards, $3.3 million in option-based awards, $3.7 million in non-equity incentives and $3.2 million in pension value.