History
In 2002, Duke Energy acquired Westcoast Energy, a Canadian corporation, which owned Chatham, Ontario-based Union Gas, regulated under the 1998 Ontario Energy Board Act.
On December 29, 2006 Standard & Poor's added Spectra Energy Corp. to its S&P 500 Index, replacing Parametric Technology Corp. (NASDAQ: PMTC), a software company, which then moved to the S&P MidCap 400 list instead. Spectra began trading on the New York Stock Exchange under the ticker symbol SE.
On January 3, 2007, Duke Energy completed the spin-off of its natural gas business, including Westcoast Energy and Union Gas, to form Spectra Energy. Duke Energy shareholders received 1 share of Spectra Energy for every 2 shares of Duke Energy.
By early August 2007, the S&P 500 breached its first 10% correction in over four years, and the shares of Spectra Energy Corp. sunk to their lowest point since trading had begun in December 2006, after the company announced that second quarter earnings had dropped 39 percent.
In 2009, the company's financial performance had improved and had a total shareholder return of 38.3 percent.
In 2011, Spectra Energy achieved record net income and surpassed its earnings target by more than 7 percent. And, in 2011, the company increased its annual dividend to $1.12, representing a nearly 8 percent increase.
Read more about this topic: Spectra Energy
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—Karl Marx (1818–1883)
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