HOUSTON, Jan. 5, 2016 /PRNewswire/ -- Spectra Energy
Corp (NYSE: SE) has announced a 14-cent increase in its annual dividend to
$1.62 per share, or $0.405 on a quarterly basis. The dividend is
payable on March 8, 2016, to
shareholders of record at the close of business on February 12, 2016.
"Consistent with our financial plans and our commitment to
investors, we are increasing our annual dividend by 14 cents to $1.62
per share. This increase reflects our continued ability to deliver
strong and reliable cash flows from our solid fee-based businesses
and portfolio of secured expansion projects," said Greg Ebel, chief executive officer, Spectra
Energy. "We expect our 2016 dividend coverage ratio to be in line
with our 2015 expected coverage ratio of 1.2 times – and we look
forward to sharing our complete business outlook and financial plan
with investors in February."
Forward-Looking Statements
This release includes
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Forward-looking statements are based on our
beliefs and assumptions. These forward-looking statements are
identified by terms and phrases such as: anticipate, believe,
intend, estimate, expect, continue, should, could, may, plan,
project, predict, will, potential, forecast, and similar
expressions. Forward-looking statements involve risks and
uncertainties that may cause actual results to be materially
different from the results predicted. Factors that could cause
actual results to differ materially from those indicated in any
forward-looking statement include, but are not limited to: state,
federal and foreign legislative and regulatory initiatives that
affect cost and investment recovery, have an effect on rate
structure, and affect the speed at and degree to which competition
enters the natural gas and oil industries; outcomes of litigation
and regulatory investigations, proceedings or inquiries; weather
and other natural phenomena, including the economic, operational
and other effects of hurricanes and storms; the timing and extent
of changes in commodity prices and interest rates; general economic
conditions, including the risk of a prolonged economic slowdown or
decline, or the risk of delay in a recovery, which can affect the
long-term demand for natural gas and oil and related services;
potential effects arising from terrorist attacks and any
consequential or other hostilities; changes in environmental,
safety and other laws and regulations; the development of
alternative energy resources; results and costs of financing
efforts, including the ability to obtain financing on favorable
terms, which can be affected by various factors, including credit
ratings and general market and economic conditions; increases in
the cost of goods and services required to complete capital
projects; growth in opportunities, including the timing and success
of efforts to develop U.S. and Canadian pipeline, storage,
gathering, processing and other related infrastructure projects and
the effects of competition, and timing and success of efforts to
secure contracts; the performance of natural gas and oil
transmission and storage, distribution, and gathering and
processing facilities; the extent of success in connecting natural
gas and oil supplies to gathering, processing and transmission
systems and in connecting to expanding gas and oil markets; the
effects of accounting pronouncements issued periodically by
accounting standard-setting bodies; conditions of the capital
markets during the periods covered by forward-looking statements;
and the ability to successfully complete merger, acquisition or
divestiture plans; regulatory or other limitations imposed as a
result of a merger, acquisition or divestiture; and the success of
the business following a merger, acquisition or divestiture. These
factors, as well as additional factors that could affect our
forward-looking statements, are described under the headings "Risk
Factors" and "Cautionary Statement Regarding Forward-Looking
Information" in our 2014 Form 10-K, filed on February 27, 2015, and in our other filings made
with the Securities and Exchange Commission (SEC), which are
available via the SEC's website at www.sec.gov. In light of these
risks, uncertainties and assumptions, the events described in the
forward-looking statements might not occur or might occur to a
different extent or at a different time than we have described. All
forward-looking statements in this release are made as of the date
hereof, and we undertake no obligation to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise.
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 21,000 miles of
natural gas, natural gas liquids, and crude oil pipelines;
approximately 300 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 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. For more
information, visit www.spectraenergy.com and
www.spectraenergypartners.com.
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SOURCE Spectra Energy Corp