Spectra Energy Corp. has announced a 14 cent increase in its annual dividend on its common stock. It has increased to US$1.76 per share, or US$0.44 on a quarterly basis. The quarterly cash dividend declared by Spectra Energy for 1Q17 is payable on 1 March 2017 to shareholders of record at close of business on 15 February 2017.
“Delivering on the commitment we made to our investors, which is underlined by our reliable cash flows, we are again increasing our annual dividend by 14 cents, to US$1.76 per share,” said Greg Ebel, CEO of Spectra Energy. “Looking forward, our dividend growth projections are further enhanced upon completion of our proposed merger with Enbridge Inc. Including this announced dividend increase, we anticipate investors of the combined company to benefit from an annualised 15% dividend increase in 2017.”
Spectra Energy’s proposed merger with Enbridge is expected to close in the 1Q17.
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