TransCanada to Provide Strategic and Financial Outlook at Investor Day
TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) will hold its annual investor day in Toronto today where it will review the outlook for its natural gas pipelines, liquids pipelines and energy businesses along with its financing strategy. The event will be webcast live starting at 8 a.m. ET, 6 a.m. MT.
“The strength of our underlying business, along with $13 billion of small to medium-sized projects anticipated to be in-service by the end of 2017, is expected to drive near term growth in earnings and cash flow,” said Russ Girling, TransCanada’s president and chief executive officer. “In addition we continue to advance $33 billion of major infrastructure projects to provide market access for growing natural gas and crude oil production in Canada and the United States which would further supplement growth through the end of the decade.”
“As a result, we expect our common share dividend to grow at an average annual rate of at least eight per cent through 2017,” added Girling. “Looking forward, success in advancing our major projects could lead to an annual dividend growth rate of ten per cent or more.”
Recently, on November 3, 2014, TransCanada’s Board of Directors declared a quarterly dividend of $0.48 per common share for the quarter ending December 31, 2014, equivalent to $1.92 per common share on an annualized basis which represents a four per cent increase over the amount declared for the same period in 2013.
“Our strong financial position and growing cash flow provides us with the flexibility to accelerate future dividend growth relative to the recent past,” added Girling. “At the same time, we will maintain our financial strength to prudently fund our industry-leading $46 billion of commercially secured projects that are expected to generate significant long-term shareholder value.”
Our portfolio includes approximately $13 billion of small to medium-sized projects that are expected to enter service between now and the end of 2017, subject to various regulatory approvals. They include NGTL and Canadian Mainline expansions, Mexican natural gas pipelines, Alberta regional liquids pipelines and two power generation facilities.
We also continue to advance $33 billion of large-scale projects that are subject to various regulatory and corporate approvals. They include Energy East, Keystone XL, Prince Rupert Gas Transmission and Coastal GasLink.