TransCanada Declares Quarterly Dividends

CALGARY, ALBERTA--(Marketwired - April 29, 2016) - News Release - 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 $0.565 per common share for the quarter ending June 30, 2016, on the Company's outstanding common shares. The common share dividend is payable on July 29, 2016 to shareholders of record at the close of June 30, 2016.

The Board also declared quarterly dividends on the outstanding Cumulative First Preferred Shares as follows:

• For the period up to but excluding June 30, 2016, payable on June 30, 2016, to shareholders of record at the close of business on May 31, 2016:
  • Series 1 - $0.204125 per share
  • Series 2 - $0.14806148 per share
  • Series 3 - $0.1345 per share
  • Series 4 - $0.10828005 per share

• For the period up to but excluding July 30, 2016, payable on August 2, 2016, to shareholders of record at the close of business on June 30, 2016:
  • Series 5 - $0.14143750 per share
  • Series 6 - $0.12444126 per share
  • Series 7 - $0.25 per share
  • Series 9 - $0.265625 per share

• For the period up to but excluding May 31, 2016, payable on May 31, 2016, to shareholders of record at the close of business on May 12, 2016:
  • Series 11 - $0.2375 per share
  • Series 13 - initial partial dividend of $0.1540 per share

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.

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.

With more than 65 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 67,000 kilometres (42,000 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 368 billion cubic feet of storage capacity. A growing independent power producer, TransCanada owns or has interests in over 11,400 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.