Spectra Energy Declares Increased Quarterly Dividend



Spectra Energy today declared a 4.6 percent increase in its quarterly cash dividend on its common stock, to $0.23 per share. The dividend is payable on Mar. 17, 2008, to shareholders of record on the close of business Feb. 15, 2008.

Spectra Energy Canada Exchangeco Inc. ("Exchangeco"), a subsidiary of Spectra Energy, announced a quarterly cash dividend of CDN $0.23 on its Spectra Energy exchangeable shares, payable on Mar. 17, 2008 to shareholders of record on the close of business Feb. 15, 2008.

All dividends paid or deemed for Canadian federal, provincial or territorial income tax purposes including the dividend 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 Exchangeco. An eligible dividend received by a Canadian resident individual shareholder is entitled to the enhanced dividend tax credit.


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