Spectra Energy Partners Increases Quarterly Cash Distribution 18th Consecutive Quarterly Cash Distribution Increase
HOUSTON, April 19, 2012 /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 $0.48 per unit, an increase of one-half cent over the previous level of $0.475 per unit. This is the 18th consecutive quarter that Spectra Energy Partners has increased its quarterly cash distribution. The cash distribution is payable on May 15, 2012, to unitholders of record at the close of business on May 4, 2012. This quarterly cash distribution equates to $1.92 per unit on an annual basis.
This release is intended to be a qualified notice to nominees and brokers as provided for under Treasury Regulation Section 1.1446-4(b). Please note that 100 percent of Spectra Energy Partners' distributions to foreign investors are attributable to income that is effectively connected with a U.S. trade or business. Accordingly, Spectra Energy Partners' distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate.
Spectra Energy Partners, LP (NYSE: SEP) is a Houston-based master limited partnership, formed by Spectra Energy Corp (NY SE: SE), that owns interests in natural gas transportation and storage assets in the United States, including more than 3,200 miles of transmission and gathering pipelines and approximately 57 billion cubic feet (Bcf) of natural gas storage. These assets are capable of transporting 3.6 Bcf of natural gas per day from growing supply areas to high-demand markets.
SOURCE Spectra Energy Partners, LP