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Spectra Energy (SE) Targets FY13 EPS of $1.50

January 16, 2013 8:12 AM EST Send to a Friend
Spectra Energy Corp (NYSE: SE) today announced 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).

(***Street estimates call for 2013 EPS of $1.64)

Key assumptions underlying Spectra Energy's 2013 financial plan include:

*An average natural gas liquids price of 80 cents per gallon; natural gas price of $3.75 per thousand cubic feet (Mcf); and crude averaging $90 per barrel.
Break-even earnings before interest and taxes (EBIT) at the Empress gas processing plant in Western Canada.

*Expansion CapEx of $1.4 billion.

*Maintenance CapEx of $790 million.

*A Canadian/U.S. dollar exchange rate at parity.

Excludes Express-Platte Pipeline System earnings, pending acquisition closing.
No SE equity issuance

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