TransCanada Corporation (TransCanada) has recently announced that its board of directors has declared quarterly dividends on the outstanding cumulative first preferred shares as follows. For the period up to but excluding 28 February 2017 to shareholders of record at the close of business on 31 January will receive (payable on 28 February):
- Series 11 - CAN$0.2375 per share.
- Series 13 - CAN$0.34375 per share.
- Series 15 - initial dividend of CAN$0.3323 per share.
These dividends are designated to be eligible dividends for purposes of the Canada’s Income Tax Act and any similar provincial or territorial legislation by TransCanada. An enhanced dividend tax credit applies to eligible dividends that are paid to Canadian residents.
TransCanada's board has also approved the issuance of common shares from treasury at a 2% discount under the company’s dividend reinvestment plan (DRP). Under the DRP, investors holding TransCanada common or preferred shares can receive common shares instead of cash dividend payments.
Read the article online at: https://www.worldpipelines.com/business-news/08122016/transcanada-shares-its-quarterly-dividends/