Spectra Energy: Gas Pipelines Make Great Recession Proof Stocks

Growing Dividend

As a spin-off of the successful Duke Energy, Spectra Energy Corp (NYSE: SE) has had a rather successful first 16 months in business and has recently declared an 8.7 percent increase in its quarterly cash dividend on its common stock, from $0.23 to $0.25 per share. The dividend is payable September 15, 2008, to shareholders of record at the close of business August 15, 2008.

Spectra has what appears to be a very assertive, yet stable, long term growth plan that is focused on organic growth and project development. This includes a very lucrative joint venture with Conaco Phillips and already transports some 12% of the natural gas consumed in the United States.