Capital Markets | Capital Expenditure
Spectra Energy Plans $1.4B CapEx; Plans Expansions
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Spectra Energy Corp. has reported its financial plan for 2013, which includes the following:
Ongoing 2013 diluted earnings per share (EPS) target of $1.50. Annual dividend of $1.22, consistent with previously announced 10-cent increase. Investment of approximately $1.4 billion in expansion capital in 2013, consistent with Spectra Energy's long-term growth plan of $1.5 billion average annual growth capital expenditures (CapEx)."Our plans for 2013 will enable us to continue to deliver solid shareholder value for the next several years, with expected EPS growth in the 6 percent range and dividend growth of at least 8 cents per year," said Greg Ebel, president and chief executive officer, Spectra Energy Corp. "Consistent with that expectation, we've set our 2013 earnings per share outlook…
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