HOUSTON, Aug. 5, 2015 /PRNewswire/ — Spectra Energy Partners, LP (NYSE: SEP) announced that the board of directors of its general partner declared a quarterly cash distribution to unitholders of $0.61375 per unit, an increase of 1.25 cents over the previous level of $0.60125 per unit. This is the 31st consecutive quarter that Spectra Energy Partners has increased its quarterly cash distribution. The cash distribution is payable on August 28, 2015, to unitholders of record at the close of business on August 14, 2015. This quarterly cash distribution equates to $2.455 per unit on an annual basis.
This information is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Under rules applicable to publicly-traded partnerships, our distributions to non-U.S. unitholders are subject to withholding tax at the highest effective applicable rate to the extent attributable to income that is effectively connected with the conduct of a U.S. trade or business. Given the uncertainty at the time of making distributions regarding the amount of any distribution that is attributable to income that is so effectively connected, we intend to treat all of our distributions as attributable to our U.S. operations, and as a result, the entire distribution will be subject to withholding.
SOURCE Spectra Energy Partners, LP