TransCanada Issues Comment on Market Activity: 'Firmly Believes in Current Corporate Form...'

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TransCanada Corporation
TRP
(TransCanada) today released the following statement in acknowledgement of significant trading activity in TransCanada's common shares. Statement: "TransCanada firmly believes its current corporate form, asset base and financial strength provide critical underpinning to execute the company's industry-leading $38 billion capital program which is expected to generate significant, sustainable growth in future cash flow, earnings and dividends. As previously communicated, as an element of funding this growth, the company is committed to vending the remainder of its U.S. natural gas pipeline assets into its master limited partnership, TC PipeLines, LP
TCP
over the coming years. These assets are expected to generate approximately US$500 million in earnings before interest, tax, depreciation and amortization in 2016 and beyond. With its commercially secured $38 billion capital program and on-going growth in its three core businesses, the company is well positioned to create significant shareholder value. Since 2000, TransCanada has delivered a 16 per cent annualized return to its shareholders including an average increase in dividends of 7 per cent per annum. TransCanada understands the value placed on sustainable growth in cash flow, earnings and dividends, and is wholly-committed to the ongoing enhancement of shareholder value including continuous evaluation of the company's approach to capital allocation." 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 liquids pipelines, power generation and gas storage facilities. TransCanada operates a network of natural gas pipelines that extends more than 68,500 kilometres (42,500 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 more than 400 billion cubic feet of storage capacity. A growing independent power producer, TransCanada owns or has interests in over 11,800 megawatts of power generation in Canada and the United States. TransCanada is developing one of North America's largest liquids delivery systems. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP. Visit TransCanada.com and our blog to learn more, or connect with us on social media and 3BL Media.
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Posted In: NewsHedge FundsPress ReleasesGeneral
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