Westcoast Energy and Union Gas Declare Dividends

VANCOUVER, Aug. 8, 2016 /CNW/ - On August 8, 2016, Westcoast Energy Inc. declared the following quarterly dividends:

  1. 5.50% CUMULATIVE FIRST PREFERRED SHARES, SERIES 7:  A dividend of 34.375 cents per share payable on October 15, 2016 to shareholders of record at the close of business on October 1, 2016.

  2. 5.60% CUMULATIVE FIRST PREFERRED SHARES, SERIES 8:  A dividend of 35.00 cents per share payable on October 15, 2016 to shareholders of record at the close of business on October 1, 2016.

  3. CUMULATIVE FIVE YEAR REDEEMABLE, SERIES 10:  A dividend of 32.8125 cents per share payable on October 15, 2016 to shareholders of record at the close of business on October 1, 2016.

Also on August 8, 2016, Union Gas Limited declared the following quarterly dividends:

  1. 5.50% CUMULATIVE REDEEMABLE CLASS A PREFERENCE SHARES, SERIES A: A quarterly dividend of 69 cents per share payable on September 30, 2016 to shareholders of record at the close of business on September 9, 2016.

  2. 6% CUMULATIVE REDEEMABLE CLASS A PREFERENCE SHARES, SERIES B: A quarterly dividend of 75 cents per share payable on September 30, 2016 to shareholders of record at the close of business on September 9, 2016.

  3. 5% CUMULATIVE REDEEMABLE CLASS A PREFERENCE SHARES, SERIES C: A quarterly dividend of 62.5 cents per share payable on September 30, 2016 to shareholders of record at the close of business on September 9, 2016.

All dividends paid or deemed paid for Canadian federal, provincial or territorial income tax purposes by Westcoast Energy Inc. and Union Gas Limited (collectively the "Corporations") including the dividends above are designated eligible dividends within the meaning of 89(1) of the Income Tax Act (Canada) or similar provincial or territorial legislation. This designation will apply to all such dividends paid or deemed paid in the future unless otherwise notified by the Corporations. An eligible dividend received by a Canadian resident individual shareholder is entitled to the enhanced dividend tax credit. 

Westcoast Energy Inc. and Union Gas Limited are indirect subsidiaries of Spectra Energy Corp.  

Spectra Energy Corp (NYSE: SE), a FORTUNE 500 company, is one of North America's leading pipeline and midstream companies. Based in Houston, Texas, the company's operations in the United States and Canada include approximately 21,000 miles of natural gas and crude oil pipelines; approximately 300 billion cubic feet of natural gas storage; 4.8 million barrels of crude oil storage; as well as natural gas gathering, processing, and local distribution operations. Spectra Energy is the general partner of Spectra Energy Partners (NYSE: SEP), one of the largest pipeline master limited partnerships in the United States and owner of the natural gas and crude oil assets in Spectra Energy's U.S. portfolio. Spectra Energy also has a 50 percent ownership in DCP Midstream, the largest producer of natural gas liquids and the largest natural gas processor in the United States. Spectra Energy has served North American customers and communities for more than a century. For more information, visit www.spectraenergy.com.

SOURCE Westcoast Energy Inc.

For further information: Media: mediacanada@spectraenergy.com, 1.844.669.6001


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