HOUSTON, May 4, 2017 /PRNewswire/ -- Spectra Energy
Partners, LP (NYSE: SEP) announced today that the board of
directors of its general partner declared a quarterly cash
distribution to unitholders of $0.70125 per unit, an increase of 1.25 cents over the previous level of
$0.68875 per unit. The cash
distribution is payable on May 26,
2017, to unitholders of record at the close of business on
May 15, 2017. This quarterly cash
distribution equates to $2.805 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), an Enbridge Inc.
company, is a Houston-based master
limited partnership. 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 pipelines, approximately 170 billion cubic feet of
natural gas storage, and approximately 5.6 million barrels of crude
oil storage.
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SOURCE Spectra Energy Partners, LP