The company said that the higher fourth quarter results reflect strong earnings at all businesses, partially offset by higher corporate costs, and a higher effective tax rate.
Reported diluted earnings per share (EPS) for 2007 were $1.51, and reported net income was $957 million, compared with 2006 reported net income of $1.2 billion.
Fred Fowler, president and CEO of Spectra Energy, said: We had a very strong quarter which contributed to an outstanding year. I am confident we will maintain our strong momentum as we move into 2008, and we will continue to execute on our plan with diligence and focus.
We kept our promises and had an extremely successful first year. We beat our EPS employee incentive target, made tremendous progress on our capital expansion program, maintained an investment grade balance sheet, launched our master limited partnership at a record yield, and last month increased our annual dividend by four cents a share.
