With a huge 7.3% dividend yield and decades of annual dividend increases behind it, Enbridge has fallen into a period of slower growth. Management put a number on that, too, with guidance of roughly 3% distributable cash-flow growth each year between 2023 and 2026. The dividend won't grow any faster than that and may, in fact, grow more slowly. The big yield was always going to be the key driver of investor returns with Enbridge, but it could be virtually all of the return for a couple of years. Management ...