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Home Energy News TransCanada expects to raise dividend at eight to 10 per cent annual...

TransCanada expects to raise dividend at eight to 10 per cent annual rate

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CALGARY – TransCanada Corp. says it expects to raise its dividend
at an average annual rate of eight to 10 percent through 2021.

Ahead of its investor day in Toronto today, the company says its
dividend outlook is supported by expected growth in earnings and
cash flow.

The pipeline operator has increased its dividend on common shares
in each of the last 18 years.

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TransCanada says it expects comparable earnings before interest,
taxes, depreciation, and amortization to grow to about $10 billion in
2021, a 35 percent increase from the $7.4 billion in 2017.

Last week, a U.S. judge blocked a permit for TransCanada’s
Keystone XL project and ordered officials to conduct a new
environmental review.

The company has said it remains committed to building the
pipeline.

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