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Stock Market & Financial Investment News

News Breaks
February 5, 2014
07:34 EDTSESpectra Energy sees 2014 distributable cash flow over $1.2B
Spectra Energy (SE) and Spectra Energy Partners (SEP) announced their business outlook and three year financial plan. Key highlights include: Spectra Energy 2014 distributable cash flow of more than $1.2B; SEP distributable cash flow in 2014 of $935M with a CAGR of 13% through 2016; At least 9% annual growth of Spectra Energy dividends and at least 8%-9% annual growth of Spectra Energy Partners distributions through 2016; 2014 enterprise-wide EBITDA of more than $3B; with a compounded annual growth rate of 7% through 2016; Investment of approximately $1.3B in expansion capital in 2014 and an average annual growth CapEx of approximately $2B through 2016; SEP's share of CapEx is about 70% in 2014; 60% in 2015, and 45% in 2016 Pursuing an additional $10B of natural gas and liquids opportunities over the previously announced $25B of opportunities through the end of the decade.
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April 15, 2014
09:18 EDTSESpectra Energy elects CEO Gregory Ebel as chair of the board of directors
Spectra Energy announced that the board of directors has elected Gregory L. Ebel to serve as chair of the board of directors. Ebel, who has been president and CEO since January 2009, replaces William T. Esrey who is retiring after serving as chair for the past five years. The company also announced that F. Anthony Comper has been elected as independent lead director. Comper, originally elected to the board in 2007, is the former chair and retired president and CEO of BMO Financial Group and will serve as a member of Spectra Energy's corporate governance and audit committees. Both of these appointments will be effective immediately.

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