TransCanada Declares Quarterly Dividends

CALGARY, ALBERTA--(Marketwired - July 31, 2014) - 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 $0.48 per common share for the quarter ending September 30, 2014, on the Company's outstanding common shares. The common share dividend is payable on October 31, 2014, to shareholders of record at the close of business on September 30, 2014.

The Board also declared the following regular dividends on TransCanada's preferred shares:

• A quarterly dividend of $0.2875 per share for the period up to but excluding September 30, 2014, on TransCanada's outstanding Cumulative Redeemable First Preferred Shares, Series 1. The dividend is payable on September 30, 2014, to shareholders of record at the close of business on September 2, 2014.
• A quarterly dividend of $0.25 per share for the period up to but excluding September 30, 2014, on TransCanada's outstanding Cumulative Redeemable First Preferred Shares, Series 3. The dividend is payable on September 30, 2014, to shareholders of record at the close of business on September 2, 2014.
• A quarterly dividend of $0.275 per share for the period up to but excluding October 30, 2014, on TransCanada's outstanding Cumulative Redeemable First Preferred Shares, Series 5. The dividend is payable on October 30, 2014, to shareholders of record at the close of business on September 30, 2014.
• A quarterly dividend of $0.25 per share for the period up to but excluding October 30, 2014, on TransCanada's outstanding Cumulative Redeemable First Preferred Shares, Series 7. The dividend is payable on October 30, 2014, to shareholders of record at the close of business on September 30, 2014.
• A quarterly dividend of $0.265625 per share for the period up to but excluding October 30, 2014, on TransCanada's outstanding Cumulative Redeemable First Preferred Shares, Series 9. The dividend is payable on October 30, 2014, to shareholders of record at the close of business on September 30, 2014.

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.