HOUSTON, April 21, 2011 /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 $0.46 per unit for the quarter ended March 31, 2011. This represents a 2.2 percent increase over the fourth quarter 2010 distribution of $0.45 per unit, and a 9.5 percent increase over the first quarter 2010 distribution of $0.42 per unit. The cash distribution is payable on May 13, 2011, to unitholders of record at the close of business on May 3, 2011. This quarterly cash distribution equates to $1.84 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 (NYSE: SE), that owns interests in natural gas transportation and storage assets in the United States, including more than 3,100 miles of transmission and gathering pipelines and approximately 49 billion cubic feet (Bcf) of natural gas storage. These assets are capable of transporting 3.29 Bcf of natural gas per day from growing supply areas to high-demand markets.
SOURCE Spectra Energy Partners, LP