Cash Distributions
|
Payment Date |
Record Date |
Ex-Dividend Date |
Distribution Per Unit |
|
May 15, 2009 |
April 30, 2009 |
April 28, 2009 |
70.5 cents |
|
February 13, 2009 |
January 30, 2009 |
January 28, 2009 |
70.5 cents |
|
November 14, 2008 |
October 31, 2008 |
October 29, 2008 |
70.5 cents |
|
August 14, 2008 |
July 31, 2008 |
July 29, 2008 |
70.5 cents |
|
May 15, 2008 |
April 30, 2008 |
April 28, 2008 |
70.0 cents |
|
February 14, 2008 |
January 31, 2008 |
January 29, 2008 |
66.5 cents |
|
November 14, 2007 |
October 31, 2007 |
October 29, 2007 |
66.0 cents |
|
August 14, 2007 |
July 31, 2007 |
July 27, 2007 |
65.5 cents |
|
May 15, 2007 |
April 30, 2007 |
April 26, 2007 |
65.0 cents |
|
February 14, 2007 |
January 31, 2007 |
January 29, 2007 |
60.0 cents |
|
November 14, 2006 |
October 31, 2006 |
October 27, 2006 |
60.0 cents |
|
August 14, 2006 |
July 31, 2006 |
July 27, 2006 |
57.5 cents |
|
May 15, 2006 |
April 28, 2006 |
April 26, 2006 |
57.5 cents |
|
February 14, 2006 |
January 31, 2006 |
January 27, 2006 |
57.5 cents |
|
November 14, 2005 |
October 31, 2005 |
October 27, 2005 |
57.5 cents |
|
August 12, 2005 |
July 29, 2005 |
July 27, 2005 |
57.5 cents |
|
May 13, 2005 |
April 29, 2005 |
April 27, 2005 |
57.5 cents |
|
February 14, 2005 |
January 31, 2005 |
January 27, 2005 |
57.5 cents |
|
November 12, 2004 |
October 29, 2004 |
October 27, 2004 |
57.5 cents |
|
August 13, 2004 |
July 30, 2004 |
July 28, 2004 |
57.5 cents |
|
May 14, 2004 |
April 30, 2004 |
April 28, 2004 |
55.0 cents |
|
February 13, 2004 |
January 30, 2004 |
January 28, 2004 |
55.0 cents |
|
November 14, 2003 |
October 31, 2003 |
October 29, 2003 |
55.0 cents |
|
August 14, 2003 |
July 31, 2003 |
July 29, 2003 |
55.0 cents |
|
May 15, 2003 |
April 30, 2003 |
April 28, 2003 |
52.5 cents |
|
February 14, 2003 |
January 31, 2003 |
January 29, 2003 |
52.5 cents |
|
November 14, 2002 |
October 31, 2002 |
October 29, 2002 |
52.5 cents |
|
August 14, 2002 |
July 31, 2002 |
July 29, 2002 |
52.5 cents |
|
May 15, 2002 |
April 30, 2002 |
April 26, 2002 |
50.0 cents |
|
February 14, 2002 |
January 31, 2002 |
January 29, 2002 |
50.0 cents |
|
November 14, 2001 |
October 31, 2001 |
October 29, 2001 |
50.0 cents |
|
August 14, 2001 |
July 31, 2001 |
July 27, 2001 |
50.0 cents |
|
May 15, 2001 |
April 30, 2001 |
April 26, 2001 |
47.5 cents |
|
February 14, 2001 |
January 31, 2001 |
January 29, 2001 |
47.5 cents |
|
November 14, 2000 |
October 31, 2000 |
October 27, 2000 |
47.5 cents |
|
August 14, 2000 |
July 31, 2000 |
July 27, 2000 |
45 cents |
|
May 15, 2000 |
April 28, 2000 |
April 26, 2000 |
45 cents |
|
February 14, 2000 |
January 31, 2000 |
January 27, 2000 |
45 cents |
|
November 12, 1999 |
October 29, 1999 |
October 27, 1999 |
45 cents |
|
August 12, 1999 |
July 30, 1999 |
July 28, 1999 |
16.81 cents (1) |
This information is historical and cannot be used to make predictions on future distributions from the Partnership.
1The Partnership's initial cash distribution was 16.81 cents per unit. This distribution reflected the shortened period of May 28 to June 30, 1999. The target distribution level (the Minimum Quarterly Distribution) for a full three-month period was set at 45 cents in TC PipeLines' May 24, 1999 initial public offering prospectus. The prospectus also stated that the initial distribution of the Partnership would be adjusted to reflect the actual number of days from the closing of the offering to the end of the quarter. The initial cash distribution of 16.81 cents per unit was calculated as follows:
End of initial quarter: June 30, 1999
Number of days from closing to quarter end: 34
Number of days in full three-month quarter: 91
Minimum Quarterly Distribution: 45 cents
34 days divided by 91 days multiplied by 45 cents = 16.81 cents
Cash Distribution Policy
The holder of the general partner interest is entitled to receive 2 percent of total cash distributions until the MQD has been achieved, at which time it will have the right to receive incentive distributions. Incentive distribution rights represent the right to receive an increasing percentage of quarterly distributions of available cash after the MQD has been achieved.
The Partnership expects to make cash distributions approximately 45 days after the end of each quarter. There is no assurance, however, that the MQD will be made on the common units.
A detailed description of TC PipeLines, LP's cash distribution policy is in the May 24, 1999 initial public offering prospectus.
