HOUSTON, Aug. 3, 2016 /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 $0.66375 per unit, an
increase of 1.25 cents over the
previous level of $0.65125 per unit.
This is the 35th consecutive quarter that Spectra Energy
Partners has increased its quarterly cash distribution. The cash
distribution is payable on August 26,
2016, to unitholders of record at the close of business on
August 15, 2016. This quarterly cash
distribution equates to $2.655 per
unit on an annual basis.
This information is intended to be a qualified notice under
Treasury Regulation Section 1.1446-4(b). Under rules applicable to
publicly-traded partnerships, our distributions to non-U.S.
unitholders are subject to withholding tax at the highest effective
applicable rate to the extent attributable to income that is
effectively connected with the conduct of a U.S. trade or business.
Given the uncertainty at the time of making distributions regarding
the amount of any distribution that is attributable to income that
is so effectively connected, we intend to treat all of our
distributions as attributable to our U.S. operations, and as a
result, the entire distribution will be subject to withholding.
Spectra Energy Partners, LP (NYSE: SEP) is a Houston-based master limited partnership,
formed by Spectra Energy Corp (NYSE: SE). SEP is one of the largest
pipeline MLPs in the United States
and connects growing supply areas to high-demand markets for
natural gas and crude oil. These assets include more than 15,000
miles of transmission and gathering pipelines, approximately 170
billion cubic feet of natural gas storage, and approximately 4.8
million barrels of crude oil storage.
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SOURCE Spectra Energy Partners, LP