Spectra Energy Increases Annual Dividend by 10.5% or 14 Cents per Share
HOUSTON, Nov. 4, 2014 /PRNewswire/ -- Spectra Energy Corp (NYSE: SE) has announced a 10.5% increase in the quarterly cash dividend on its common stock to $0.37 per share, or $1.48 per share on an annualized basis. The dividend is payable on December 9, 2014, to shareholders of record at the close of business on November 17, 2014.
"In February, we laid out our financial plan which included an annual increase in our dividend of 12 cents per share. Given our strong performance and the growth prospects we are realizing, the Board is pleased to announce a larger than expected 14 cents per share or 10.5% increase in our annual dividend," said Greg Ebel, Spectra Energy's chairman, chief executive officer and president. "Furthermore, the company will commence this dividend increase in the fourth quarter of this year."
"This accelerated and larger than expected dividend increase underscores our confidence in Spectra Energy's growth and our ability to deliver reliable cash flows and the ongoing growth of our dividend," Ebel added.
Spectra Energy Corp (NYSE: SE), a FORTUNE 500 company, is one of North America's leading pipeline and midstream companies. Based in Houston, Texas, the company's operations in the United States and Canada include more than 22,000 miles of natural gas, natural gas liquids, and crude oil pipelines; approximately 305 billion cubic feet (Bcf) of natural gas storage; 4.8 million barrels of crude oil storage; as well as natural gas gathering, processing, and local distribution operations. Spectra Energy is the general partner of Spectra Energy Partners (NYSE: SEP), one of the largest pipeline master limited partnerships in the United States and owner of the natural gas, natural gas liquids, and crude oil assets in Spectra Energy's U.S. portfolio. Spectra Energy also has a 50 percent ownership in DCP Midstream, the largest producer of natural gas liquids and the largest natural gas processor in the United States. Spectra Energy has served North American customers and communities for more than a century. The company's longstanding values are recognized through its inclusion in the Dow Jones Sustainability World and North America Indexes and the CDP S&P 500 Climate Disclosure and Performance Leadership Indexes. For more information, visit www.spectraenergy.com and www.spectraenergypartners.com.
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SOURCE Spectra Energy Corp
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