Spectra Energy Dividend of $0.405 Per Share Offers 4.4% Yield

Spectra Energy Corp SE disclosed that its board has declared a quarterly cash dividend on its common stock of $0.405 per share. On an annualized basis, this worked out to $1.62 per share. The dividend provided a yield of 4.4 percent, which is higher than the average five-year yield of 3.8 percent.

Spectra Energy said it fixed August 12 as the record date for determining the eligible shareholders. The company added that the dividend would be payable on September 7.

The company has been boosting its dividend for five straight years. As a result, its dividend growth rate for the five-year period was 8.75 percent while the three-year period was 9.09 percent.

Shares of the company traded down by 0.74 percent on Tuesday.