-- A quarterly dividend of $0.2875 per share for the period ending
September 30, 2011, on TransCanada's outstanding Cumulative Redeemable
First Preferred Shares, Series 1. The dividend is payable on September
30, 2011, to shareholders of record at the close of business on August
31, 2011.
-- A quarterly dividend of $0.25 per share for the period ending September
30, 2011 on TransCanada's outstanding Cumulative Redeemable First
Preferred Shares, Series 3. The dividend is payable on September 30,
2011 to shareholders of record at the close of business on August 31,
2011.
-- A quarterly dividend of $0.275 per share for the period ending October
30, 2011 on TransCanada's outstanding Cumulative Redeemable First
Preferred Shares, Series 5. The dividend is payable on October 31, 2011
to shareholders of record at the close of business on September 30,
2011.
In addition, the Board
declared the following regular dividends on TransCanada PipeLines Limited
(TCPL) preferred shares:
-- Dividend Number 52 was declared on the outstanding Cumulative Redeemable
First Preferred Shares Series U in the amount of $0.70 per share for the
period ending October 30, 2011. The dividend is payable on October 31,
2011 to shareholders of record at the close of business on September 30,
2011.
-- Dividend Number 51 was declared on the outstanding Cumulative Redeemable
First Preferred Shares Series Y in the amount of $0.70 per share for the
period ending November 1, 2011. The dividend is payable on November 1,
2011 to shareholders of record at the close of business on September 30,
2011.
These dividends are designated
by TransCanada and TCPL 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.
Common shares purchased with
reinvested cash dividends under TransCanada's Dividend Reinvestment and
Share Purchase Plan (DRP) will be acquired on the Toronto Stock Exchange
at 100 per cent of the weighted average purchase price. The DRP is
available for dividends payable on TransCanada's common and preferred
shares and TCPL's preferred shares.
With more than 60 years
experience, TransCanada is a leader in the responsible development and
reliable operation of North American energy infrastructure including
natural gas and oil pipelines, power generation and gas storage
facilities. TransCanada's network of wholly owned natural gas pipelines
extends more than 57,000 kilometres (35,500 miles), tapping into virtually
all major gas supply basins in North America. TransCanada is one of the
continent's largest providers of gas storage and related services with
approximately 380 billion cubic feet of storage capacity. A growing
independent power producer, TransCanada owns, or has interests in, over
10,800 megawatts of power generation in Canada and the United States.
TransCanada is developing one of North America's largest oil delivery
systems. TransCanada's common shares trade on the Toronto and New York
stock exchanges under the symbol TRP. For more information visit:
www.transcanada.com.
Forward-Looking Information
This news release may contain certain information that is
forward-looking and is subject to important risks and uncertainties. The
words "anticipate", "expect", "believe", "may", "should", "estimate",
"project", "outlook", "forecast" or other similar words are used to
identify such forward-looking information. 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 financial and operational plans and outlook.
Forward-looking statements in this document may include, among others,
statements regarding the anticipated business prospects, projects and
financial performance of TransCanada and its subsidiaries, expectations or
projections about the future, strategies and goals for growth and
expansion, expected and future cash flows, costs, schedules including
anticipated construction and completion date, operating and financial
results and expected impact of future commitments and contingent
liabilities. All forward-looking statements reflect TransCanada's beliefs
and assumptions based on information available at the time the statements
were made.
Actual results or events may differ from those
predicted in these forward-looking statements. Factors that could cause
actual results or events to differ materially from current expectations
include, among others, the ability of TransCanada to successfully
implement its strategic initiatives and whether such strategic initiatives
will yield the expected benefits, the operating performance of the
Company's pipeline and energy assets, the availability and price of energy
commodities, capacity payments, regulatory processes and decisions,
changes in environmental and other laws and regulations, competitive
factors in the pipeline and energy sectors, construction and completion of
capital projects, labour, equipment and material costs, access to capital
markets, interest and currency exchange rates, technological developments
and economic conditions in North America. By its nature, forward-looking
information is subject to various risks and uncertainties, which could
cause TransCanada's actual results and experience to differ materially
from the anticipated results or expectations expressed. Additional
information on these and other factors is available in the reports filed
by TransCanada with Canadian securities regulators and with the U.S.
Securities and Exchange Commission. 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 or otherwise, and not to use
future-oriented information or financial outlooks for anything other than
their intended purpose. TransCanada undertakes no obligation to update
publicly or revise any forward-looking information, whether as a result of
new information, future events or otherwise, except as required by law.