TransCanada Declares Quarterly Dividends
February 15 2018 - 6:35AM
News Release – TransCanada Corporation (TSX:TRP) (NYSE:TRP)
(TransCanada or the Company) today announced that the Board of
Directors (Board) of TransCanada declared a quarterly dividend of
$0.69 per common share for the quarter ending March 31, 2018
on the Company’s outstanding common shares. The common share
dividend is payable on April 30, 2018 to shareholders of record at
the close of business on March 29, 2018.
The quarterly amount is equivalent to $2.76 per common share on
an annualized basis, an increase of 10.4 per cent. This is the 18th
consecutive year the Board has raised the dividend.
The Board also declared quarterly dividends on the outstanding
Cumulative First Preferred Shares as follows:
• For the period up to but excluding March 29, 2018, payable on
March 29, 2018, to shareholders of record at the close of business
on February 28, 2018:
- Series 1 - $0.204125 per share
- Series 2 - $0.17210959 per share
- Series 3 - $0.1345 per share
- Series 4 - $0.13265753 per share
• For the period up to but excluding April 30, 2018, payable on
April 30, 2018, to shareholders of record at the close of business
on April 2, 2018:
- Series 5 - $0.14143750 per share
- Series 6 - $0.15965753 per share
- Series 7 - $0.25 per share
- Series 9 - $0.265625 per share
These dividends are designated by TransCanada to be eligible
dividends for purposes of the Income Tax Act (Canada) and any
similar provincial or territorial legislation. An enhanced dividend
tax credit applies to eligible dividends paid to Canadian
residents.
The Board also approved the issuance of common shares from
treasury at a two per cent discount under TransCanada’s Dividend
Reinvestment Plan (DRP). Under the DRP, investors holding
TransCanada common or preferred shares can receive common shares
instead of cash dividend payments. For further details,
including how to enroll in the program, please refer to
http://www.transcanada.com/drip.html.
With more than 65 years' experience, TransCanada is a leader in
the responsible development and reliable operation of North
American energy infrastructure including natural gas and liquids
pipelines, power generation and gas storage facilities. TransCanada
operates one of the largest natural gas transmission networks that
extends more than 91,900 kilometres (57,100 miles), tapping into
virtually all major gas supply basins in North America. TransCanada
is a leading provider of gas storage and related services with 653
billion cubic feet of storage capacity. A large independent power
producer, TransCanada currently owns or has interests in
approximately 6,100 megawatts of power generation in Canada and the
United States. TransCanada is also the developer and operator of
one of North America’s leading liquids pipeline systems that
extends approximately 4,900 kilometres (3,000 miles), connecting
growing continental oil supplies to key markets and refineries.
TransCanada’s common shares trade on the Toronto and New York stock
exchanges under the symbol TRP. Visit TransCanada.com to learn
more, or connect with us on social media and 3BL Media.
FORWARD-LOOKING INFORMATION
This publication contains certain information that is
forward-looking and is subject to important risks and uncertainties
(such statements are usually accompanied by words such as
"anticipate", "expect", "believe", "may", "will", "should",
"estimate", "intend" or other similar words). Forward-looking
statements in this document are intended to provide TransCanada
security holders and potential investors with information regarding
TransCanada and its subsidiaries, including management's assessment
of TransCanada's and its subsidiaries' future plans and financial
outlook. All forward-looking statements reflect TransCanada's
beliefs and assumptions based on information available at the time
the statements were made and as such are not guarantees of future
performance. Readers are cautioned not to place undue reliance on
this forward-looking information, which is given as of the date it
is expressed in this news release, and not to use future-oriented
information or financial outlooks for anything other than their
intended purpose. TransCanada undertakes no obligation to update or
revise any forward-looking information except as required by law.
For additional information on the assumptions made, and the risks
and uncertainties which could cause actual results to differ from
the anticipated results, refer to the Fourth Quarter 2017 Financial
Highlights release and 2017 Annual Report filed under TransCanada's
profile on SEDAR at www.sedar.com and with the U.S. Securities and
Exchange Commission at www.sec.gov.
Media Enquiries:Mark Cooper / Grady Semmens403.920.7859 or
800.608.7859
Investor & Analyst Enquiries:David Moneta / Stuart
Kampel403.920.7911 or 800.361.6522
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