Westcoast Energy and Union Gas Declare Dividends

VANCOUVER, May 9, 2013 /CNW/ - On May 9, 2013, 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 July 15, 2013 to shareholders of record at the close of business on July 1, 2013.
2. 5.60% CUMULATIVE FIRST PREFERRED SHARES, SERIES 8:  A dividend of 35.00 cents per share payable on July 15, 2013 to shareholders of record at the close of business on July 1, 2013.

Also on May 9, 2013, Union Gas Limited declared the following quarterly dividends:

1. 5½% CUMULATIVE REDEEMABLE CLASS A PREFERENCE SHARES, SERIES A:  A quarterly dividend of 69 cents per share payable on June 30, 2013 to shareholders of record at the close of business on June 7, 2013.
2. 6% CUMULATIVE REDEEMABLE CLASS A PREFERENCE SHARES, SERIES B:  A quarterly dividend of 75 cents per share payable on June 30, 2013 to shareholders of record at the close of business on June 7, 2013.
3. 5% CUMULATIVE REDEEMABLE CLASS A PREFERENCE SHARES, SERIES C:  A quarterly dividend of 62.5 cents per share payable on June 30, 2013 to shareholders of record at the close of business on June 7, 2013.

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 pursuant to Subsection 89(14) 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 premier pipeline and midstream companies. Based in Houston, Texas, the company's operations in the United States and Canada include more than 22,000 miles of natural gas, natural gas liquids, and crude oil pipelines, approximately 305 billion cubic feet (Bcf) of natural gas storage, as well as natural gas gathering and processing, and local distribution operations. The company also has a 50 percent ownership in DCP Midstream, the largest producer of natural gas liquids and one of the largest natural gas gatherers and processors in the United States. Spectra Energy has served North American customers and communities for more than a century. The company's longstanding values are recognized through its inclusion in the Dow Jones Sustainability World and North America Indexes and the Carbon Disclosure Project's Global 500 and S&P 500 Carbon Disclosure Leadership Indexes. For more information, visit www.spectraenergy.com.

SOURCE: Westcoast Energy Inc.

Media: Rosemary Silva
Spectra Energy
(604.488.8147)