Distributions
| Payment Date |
Record Date |
Ex-Dividend Date |
Distribution Per Unit |
| 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) |
Cash Distribution Policy
The common units and subordinated units represent limited partner interests in the Partnership. During the period which subordinated units are outstanding (the subordination period), to the extent there is sufficient available cash, the holders of common units are entitled to receive a minimum quarterly distribution (MQD), plus any arrearages on the common units. The holders of subordinated units will have the right to receive the MQD only after the common units have received the MQD plus any arrearages in payment of the MQD. The subordinated units are not entitled to arrearages. Upon expiration of the subordination period, which will generally not occur before June 30, 2004, the subordinated units will convert into common units on a one-for-one basis and will then participate pro rata with the other common units in distributions of available cash.
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 cash distribution policy is in the May 24, 1999 initial public offering prospectus.
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