TC PipeLines, LP Announces Fourth Quarter 2017 Cash Distribution
HOUSTON, TEXAS--(Marketwired - Jan. 23, 2018) - TC PipeLines, LP (NYSE:TCP) (the Partnership) today announced that the board of directors of TC PipeLines GP, Inc., its general partner, declared the Partnership's fourth quarter 2017 cash distribution of $1.00 per common unit. The distribution is unchanged from the third quarter 2017 distribution and represents a six percent increase from the $0.94 per common unit distribution paid with respect to fourth quarter 2016.
This cash distribution is the 75th consecutive quarterly distribution paid by the Partnership and is payable on February 13, 2018 to unitholders of record at the close of business on February 2, 2018.
TC PipeLines, LP is a Delaware master limited partnership with interests in eight federally regulated U.S. interstate natural gas pipelines which serve markets in the Western, Midwestern and Northeastern United States. The Partnership is managed by its general partner, TC PipeLines GP, Inc., a subsidiary of TransCanada Corporation (NYSE:TRP). For more information about TC PipeLines, LP, visit the Partnership's website at www.tcpipelineslp.com.
This release serves as qualified notice to nominees under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that 100 percent of TC PipeLines, LP's distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of the Partnership's distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate for individuals or corporations, as applicable. Nominees are treated as the withholding agents responsible for withholding distributions received by them on behalf of foreign investors.