Spectra Energy Declares Quarterly Dividend

HOUSTON, July 2 /PRNewswire-FirstCall/ -- Spectra Energy Corp (NY SE: SE) today declared a quarterly cash dividend on its common stock of $0.25 per share. The dividend is payable September 14, 2009, to shareholders of record at the close of business August 14, 2009.

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Spectra Energy Canada Exchangeco Inc. ("Exchangeco"), a subsidiary of Spectra Energy, also announced today a quarterly cash dividend of CDN $0.29 per share on its Spectra Energy exchangeable shares (TSX: SPT.B), payable September 14, 2009, to shareholders of record at the close of business August 14, 2009.

All dividends paid or deemed for Canadian federal, provincial or territorial income tax purposes, including the dividend above, are designated eligible dividends pursuant to Subsection 89(14) of the Income Tax Act (Canada) or similar provincial or territorial legislation. This designation will apply to all such dividends paid or deemed paid in the future unless otherwise notified by Exchangeco. An eligible dividend received by a Canadian resident individual shareholder is entitled to the enhanced dividend tax credit.

Spectra Energy Corp (NY SE: SE), a FORTUNE 500 company, is one of North America's premier natural gas infrastructure companies serving three key links in the natural gas value chain: gathering and processing, transmission and storage, and distribution. For nearly a century, Spectra Energy and its predecessor companies have developed critically important pipelines and related infrastructure connecting natural gas supply sources to premium markets. Based in Houston, Texas, the company operates in the United States and Canada approximately 18,900 miles of transmission pipeline, more than 275 billion cubic feet of storage, as well as natural gas gathering and processing, natural gas liquids operations and local distribution assets. The company also has a 50 percent ownership in DCP Midstream, one of the largest natural gas gatherers and processors in the United States. Spectra Energy was recently ranked by FORTUNE as the world's "most admired" pipeline company. For more information, visit www.spectraenergy.com.

SOURCE Spectra Energy Corp