Spectra Energy (NYSE: SE) CEO Greg Ebel announces plan to drop all U.S. pipeline and storage assets down to SE’s master limited partnership, Spectra Energy Partners, subject to market conditions. “We fully expect this move to be a win for investors in both SE and SEP and it will give us a more robust MLP to advance our growth opportunities. By completing this drop-down, we expect to provide investors in Spectra Energy with higher dividend growth of approximately 12 cents a year versus our current commitment of 8 cents a year. Of equal importance, this transaction will provide Spectra Energy Partners’ investors with higher distribution growth by increasing its quarterly distribution rate to a penny a quarter versus the current three quarters of a cent,” said Greg Ebel, president and chief executive officer, Spectra Energy Corp. Follow us on twitter @spectraenergy or StockTwits. Read more at bit.ly/11UGBha
Posted on: Tue, 11 Jun 2013 22:55:25 +0000
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