HOUSTON, July 24 /PRNewswire-FirstCall/ -- Spectra Energy Partners, LP today announced that the board of directors of its general partner declared a quarterly cash distribution to unitholders of $.34 per unit for the quarter ended June 30, 2008. This represents an increase of 3 percent over the distribution of $.33 per unit paid on May 15, 2008 and the third consecutive quarterly increase. The cash distribution is payable on August 14, 2008 to unitholders of record at the close of business on August 5, 2008. This quarterly cash distribution equates to $1.36 per unit on an annual basis.
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This release is intended to be a qualified notice to nominees and brokers as provided for under Treasury Regulation Section 1.1446-4(b). Please note that 100 percent of Spectra Energy Partner's distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, Spectra Energy Partner's distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate.
Spectra Energy Partners, LP is a Delaware master limited partnership that owns interests in natural gas transportation and storage assets in the United States. Spectra Energy Partners' assets include the East Tennessee Natural Gas system, a 1.3 billion cubic feet (Bcf) per day, 1,400-mile natural gas transportation pipeline located in the Southeastern United States, and Saltville Gas Storage, a 5.5 Bcf working capacity natural gas storage facility located adjacent to the East Tennessee Natural Gas system in Virginia. Spectra Energy Partners also owns a 24.5 percent interest in Gulfstream Natural Gas System, which owns a 1.1 Bcf per day, 690-mile natural gas pipeline that connects Mobile Bay to the central Florida peninsula through the Gulf of Mexico, and a 50 percent interest in Market Hub Partners, which owns high deliverability salt cavern storage assets capable of storing 35 Bcf of natural gas. Visit spectraenergypartners.com for more information.
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