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Press release from CNW Group

Westcoast Energy and Union Gas Declare Dividends

Tuesday, May 08, 2012

Westcoast Energy and Union Gas Declare Dividends14:21 EDT Tuesday, May 08, 2012VANCOUVER, May 8, 2012 /CNW/ - On May 8, 2012, Westcoast Energy Inc.declared the following quarterly dividends:5.50% CUMULATIVE FIRST PREFERRED SHARES, SERIES 7:  A dividend of 34.375 cents per share payable on July 15, 2012 to shareholders of record at the close of business on July 1, 2012.5.60% CUMULATIVE FIRST PREFERRED SHARES, SERIES 8:  A dividend of 35.00 cents per share payable on July 15 15, 2012 to shareholders of record at the close of business on July 1, 2012.Also on May 8, 2012, Union Gas Limited declared the following quarterly dividends:5½% CUMULATIVE REDEEMABLE CLASS A PREFERENCE SHARES, SERIES A:  A quarterly dividend of 69 cents per share payable on June 30, 2012 to shareholders of record at the close of business on June 8, 2012.6% CUMULATIVE REDEEMABLE CLASS A PREFERENCE SHARES, SERIES B:  A quarterly dividend of 75 cents per share payable on June 30, 2012 to shareholders of record at the close of business on June 8, 2012.5% CUMULATIVE REDEEMABLE CLASS A PREFERENCE SHARES, SERIES C:  A quarterly dividend of 62.5 cents per share payable on June 30, 2012 to shareholders of record at the close of business on June 8, 2012.All dividends paid or deemed paid for Canadian federal, provincial or territorial income tax purposes by Westcoast Energy Inc. and Union Gas Limited (collectively the "Corporations") including the dividends 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 the Corporations.  An eligible dividend received by a Canadian resident individual shareholder is entitled to the enhanced dividend tax credit.Westcoast Energy Inc. and Union Gas Limited are indirect subsidiaries of Spectra Energy Corp.Spectra Energy Corp (NYSE: SE), a FORTUNE 500 company, is one of North America's premier natural gas infrastructure companies serving three key links in the natural gas value chain: gathering and processing, transmission and storage, and distribution. For nearly a century, Spectra Energy and its predecessor companies have developed critically important pipelines and related infrastructure connecting natural gas supply sources to premium markets. Based in Houston, Texas, the company's operations in the United States and Canada include more than 19,100 miles of transmission pipeline, approximately 305 billion cubic feet of storage, as well as natural gas gathering and processing, natural gas liquids and local distribution operations. The company also has a 50 percent ownership in DCP Midstream, one of the largest natural gas gatherers and processors in the United States. Spectra Energy is a member of the Dow Jones Sustainability World and North America Indexes and the U.S. S&P 500 Carbon Disclosure Project's Carbon Disclosure Leadership Index.  For more information, visit www.spectraenergy.com.For further information: Media: Rosemary Silva Spectra Energy (604) 488-8147