TransCanada Declares Quarterly Dividends -- Increases Common Share Dividend
CALGARY, Alberta - January 27, 2004 - (TSX: TRP) (NYSE: TRP) - As announced today in TransCanada's Fourth Quarter 2003 Report to Shareholders, the Board of Directors of TransCanada Corporation increased the quarterly dividend on the company's outstanding common shares for the quarter ending March 31, 2004 by $0.02 to $0.29 per share. It is payable on April 30, 2004, to shareholders of record at the close of business on March 31, 2004.
Also today, the Board of Directors of TransCanada PipeLines Limited declared the following regular dividends on TransCanada PipeLines Limited's preferred shares:
TransCanada is a leading North American energy company. We are focused on natural gas transmission and power services with employees who are expert in these businesses. Our network of approximately 39,000 kilometres (24,200 miles) of wholly owned pipeline transports the majority of Western Canada's natural gas production to the fastest growing markets in Canada and the United States. TransCanada owns, controls or is constructing nearly 4,700 megawatts of power - an equal amount of power can meet the needs of about 4.7 million average households. Our common shares trade under the symbol TRP on the Toronto and New York stock exchanges.
Note: All financial figures are in Canadian dollars unless noted otherwise.
FORWARD LOOKING INFORMATION
Certain information in this news release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in this information may differ from actual results or events. Factors which could cause actual results or events to differ materially from current expectations include, among other things, the ability of TransCanada to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability and price of energy commodities, regulatory decisions, competitive factors in the pipeline and power industry sectors, and the current economic conditions in North America. For additional information on these and other factors, see the reports filed by TransCanada with Canadian securities regulators and with the United States Securities and Exchange Commission. TransCanada disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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