The board of directors of Spectra Energy Partners, LP declared a quarterly cash distribution to unit holders of $0.75125 per unit for the first quarter 2018, an increase of 1.25 cents over the previous level of $0.73875 per unit and a 7% increase compared to first quarter 2017. The cash distribution is payable on May 30, 2018, to unit holders of record at the close of business on May 21, 2018. This quarterly cash distribution equates to $3.005 per unit on an annual basis.

The company announced unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported operating revenues of $779 million compared to $700 million a year ago. Operating income was $442 million compared to $332 million a year ago. Earnings before income taxes were $423 million compared to $359 million a year ago. Net income was $418 million compared to $354 million a year ago. EBITDA was $596 million compared to $499 million a year ago. Total distributable cash flow was $453 million compared to $356 million a year ago. Maintenance capital expenditures were $14 million compared to $26 million a year ago. First quarter 2018 ongoing distributable cash flow (DCF) was $453 million, compared with $403 million in the prior-year quarter.

For the year 2018 the company expects revenue to be approximately $110 - $125 million per year, which is inclusive of an assumed disallowance for income taxes and exclusive of a payback of accumulated deferred income taxes.