TC PipeLines, LP
NASDAQ : TCLP

TC PipeLines, LP

April 18, 2007 16:31 ET

TC PipeLines, LP Increases Quarterly Cash Distribution and Schedules First Quarter Earnings Teleconference and Webcast

CALGARY, ALBERTA--(CCNMatthews - April 18, 2007) - TC PipeLines, LP (NASDAQ:TCLP) (the Partnership) today announced the Board of Directors of TC PipeLines GP, Inc., its general partner, has increased the Partnership's quarterly cash distribution to US$0.65 per unit. This distribution is payable on May 15, 2007 to unitholders of record as of April 30, 2007.

This cash distribution represents a quarterly increase of $0.05 per unit or $0.20 per unit per annum to an indicated annual cash distribution of $2.60 per unit.

"This distribution increase reflects the Partnership's increased cash flow generation due to the successful closing and financing of over $1.3 billion in acquisitions over the last year," said Russ Girling, Chairman and CEO of TC PipeLines, GP, Inc. "Today's cash distribution represents an 8.3 per cent increase over the previous quarter's distribution and a 13 per cent increase over the cash distribution declared for the first quarter 2006."

The Partnership will release its first quarter 2007 financial results the morning of Thursday, April 26, 2007. Analysts, members of the public, the media and other interested parties are invited to participate in a teleconference and audio webcast on Thursday, April 26, 2007 at 12 p.m. (Eastern). Mark Zimmerman, president of the general partner, will discuss the first quarter 2007 financial results and general developments and issues concerning the Partnership. To participate, please call (866)898-9626. A replay of the conference call will also be available two hours after the conclusion of the call and until midnight, Thursday, May 3, 2007, by dialing (800) 408-3053, then entering pass code 3220050#.

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 (99 per cent owns or controls). 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 the Partnership. 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.

Contact Information

  • TC PipeLines, LP
    Media Inquiries
    Shela Shapiro
    (403) 920-7859 or Toll Free: 1-800-608-7859
    or
    TC PipeLines, LP
    Unitholder and Analyst Inquiries
    Myles Dougan
    1-877-290-2772
    Email: investor_relations@tcpipelineslp.com