TC PipeLines, LP Increases Second Quarter Cash Distribution And Schedules Earnings Teleconference and Webcast
CALGARY, ALBERTA--(Marketwire - July 22, 2008) - TC PipeLines, LP (the Partnership) (NASDAQ:TCLP) today announced the board of directors of TC PipeLines GP, Inc., its general partner, has declared the Partnership's second quarter 2008 cash distribution in the amount of US$0.705 per unit. This cash distribution represents a 7.6 per cent increase from the second quarter 2007 distribution of $0.655 per unit.
Since January 1, 2007, the Partnership's annualized cash distribution has increased from $2.40 per unit to $2.82 per unit with this announcement.
This cash distribution is the 37th consecutive quarterly distribution paid by the Partnership and represents the sixth successive quarterly increase. This distribution is payable on August 14, 2008 to unitholders of record as of July 31, 2008.
The Partnership will release its second quarter 2008 financial results on Thursday, July 31, 2008. Analysts, members of the public, the media and other interested parties are invited to participate in a teleconference and audio webcast on Thursday, July 31, 2008 at 9:00 a.m. (Mountain) and 11:00 a.m. (Eastern). Mark Zimmerman, president of the general partner, will discuss the second quarter 2008 financial results and general developments and issues concerning the Partnership. To participate, please call (866) 225-0198. A replay of the conference call will also be available two hours after the conclusion of the call and until midnight, Thursday, August 7, 2008, by dialing (800) 408-3053, then entering pass code 3266673.
A live webcast of the conference call will also be available through the Partnership's website at www.tcpipelineslp.com. An audio replay of the call will be maintained on the website.
TC PipeLines, LP is a publicly traded limited partnership. TC PipeLines, LP has interests in more than 3,600 miles of federally regulated U.S. interstate natural gas pipelines, including Great Lakes Gas Transmission Limited Partnership (46.45 per cent ownership), Northern Border Pipeline Company (50 per cent ownership) and Tuscarora Gas Transmission Company (100 per cent ownership). Great Lakes is a 2,115-mile pipeline serving markets in Minnesota, Wisconsin, Michigan and eastern Canada. The 1,249-mile Northern Border Pipeline transports natural gas from the Montana-Saskatchewan border to markets in the midwestern United States. Tuscarora owns a 240-mile pipeline system that transports natural gas from Oregon where it interconnects to TransCanada's Gas Transmission Northwest System. TC PipeLines, LP is managed by its general partner, TC PipeLines GP, Inc., an indirect wholly owned subsidiary of TransCanada Corporation. TC PipeLines GP, Inc., also holds common units of TC PipeLines, LP. Common units of TC PipeLines, LP are quoted on the NASDAQ Stock Market and trade under the symbol "TCLP." For more information about TC PipeLines, LP, visit the Partnership's website at www.tcpipelineslp.com.
TC PipeLines, LP
Shela Shapiro/Cecily Dobson
(403) 920-7859 or Toll Free: 1-800-608-7859
TC PipeLines, LP
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