Spectra Energy Corp (NYSE: SE) has announced a 14-cent increase in its annual dividend on its common stock to $1.76 per share, or $0.44 on a quarterly basis. The quarterly cash dividend declared by Spectra Energy on its common stock for the first quarter of 2017 is payable on March 1, 2017, to shareholders of record at the close of business on February 15, 2017.
“Delivering on the commitment we made to our investors, which is underlined by our reliable cash flows, we are again increasing our annual dividend by 14 cents, to $1.76 per share,” said Greg Ebel, chief executive officer, Spectra Energy. “Looking forward, our dividend growth projections are further enhanced upon completion of our proposed merger with Enbridge Inc. Including today’s announced dividend increase, we anticipate investors of the combined company to benefit from an annualized 15 percent dividend increase in 2017, and then 10 to 12 percent annual increases through at least 2024.”
Spectra Energy’s proposed merger with Enbridge is expected to close in the first quarter this year.
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 approximately 21,000 miles of natural gas and crude oil pipelines; approximately 300 billion cubic feet 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 and crude oil assets in Spectra Energy’s U.S. portfolio. Spectra Energy also has a 50 percent ownership in DCP Midstream, LLC, which is the general partner of DCP Midstream Partners, LP (NYSE: DPM), the largest natural gas liquids producer and the largest natural gas processor in the United States, and the largest gathering and processing master limited partnership in the United States. Spectra Energy has served North American customers and communities for more than a century. For more information, visit www.spectraenergy.com.
SOURCE Spectra Energy Corp