Spectra Energy (SE) Issues 2010 Guidance on Earnings and Capex
Spectra Energy issued guidance for 2010 on earnings, dividends and planned capital expenditures. Spectrum Energy is targeting diluted earnings per share of $1.42, and a minimum dividend payout of $1.00 per share in 2010. The company plans on spending $900 million in capital expenditures on projects in 2010, and $5 billion from 2010-2014. This capital plan, if executed properly, will lead to an 8-10% compound annual growth rate in earnings from 2010 to 2012. Spectra Energy is an energy infrastructure company specializing in natural gas. The company operates gathering and processing facilities, transmission and storage assets and distribution pipelines. Spectra…