HOUSTON, Feb. 4, 2015 /PRNewswire/ -- Spectra Energy
Partners, LP (NYSE: SEP) announced that the board of directors of
its general partner declared a quarterly cash distribution to
unitholders of $0.58875 per
unit, an increase of 1.25
cents over the previous level of $0.57625 per unit. This is the 29th
consecutive quarter that Spectra Energy Partners has increased its
quarterly cash distribution. Notably, the 1.25 cent increase exceeds recent quarterly
increases of one cent. The cash
distribution is payable on February 27,
2015, to unitholders of record at the close of business on
February 13, 2015. This quarterly
cash distribution equates to $2.355
per unit on an annual basis.
This information is intended to be a qualified notice under
Treasury Regulation Section 1.1446-4(b). Under rules applicable to
publicly-traded partnerships, our distributions to non-U.S.
unitholders are subject to withholding tax at the highest effective
applicable rate to the extent attributable to income that is
effectively connected with the conduct of a U.S. trade or business.
Given the uncertainty at the time of making distributions regarding
the amount of any distribution that is attributable to income that
is so effectively connected, we intend to treat all of our
distributions as attributable to our U.S. operations, and as a
result, the entire distribution will be subject to withholding.
Spectra Energy Partners, LP (NYSE: SEP) is a Houston-based master limited partnership,
formed by Spectra Energy Corp (NYSE: SE). SEP is one of the largest
pipeline MLPs in the United States
and connects growing supply areas to high-demand markets for
natural gas, natural gas liquids, and crude oil. These assets
include more than 17,000 miles of transmission and gathering
pipelines, approximately 150 billion cubic feet of natural gas
storage, and approximately 4.8 million barrels of crude oil
storage.
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SOURCE Spectra Energy Partners, LP