Spectra Energy Makes It 24 in a Row

Midstream operator Spectra Energy Partners (NYSE: SEP  ) announced today its fourth-quarter distribution of $0.51625 per unit, a 1.5% increase in the payout made to investors last quarter of $0.50875 per unit. It marks the 24th straight quarter Spectra has raised the distribution.

Spectra expects to continue raising the quarterly distribution  with a $0.03 per unit payment in the first quarter 2014, and then $0.01 per unit quarterly thereafter.

The board of directors said the quarterly dividend is payable on Nov. 14 to the holders of record at the close of business on Oct. 31. The regular dividend payment equates to approximately $2.07-per-share annual dividend, yielding 4.6% based on the closing price today of Spectra Energy Partners' stock.

SEP Dividend Chart

SEP Dividend data by YCharts


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  • Report this Comment On October 18, 2013, at 8:13 AM, rdinv wrote:

    Rich... Since SEP is a MLP it doesn't pay dividends. It pays distributions. There is a major difference between Dividends and Distributions, especially regarding taxes.

  • Report this Comment On October 18, 2013, at 8:38 AM, rdinv wrote:

    Rich... I swore you said dividend, now I am looking again and the article says distribution. Actually the article says both dividend and distribution. It is my confusion this early in the morning. Sorry about that..

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