TransCanada Corporation has announced:
that TransCanada PipeLines Limited (the “Company”) authorized the redemption of all of the Company’s four million outstanding 5.60 per cent Cumulative Redeemable First Preferred Shares Series Y (Series Y Shares) on March 5, 2014. The Series Y Shares will be redeemed at a price of $50 per share plus $0.2455 representing accrued and unpaid dividends to such redemption date. The total face value of the outstanding Series Y Shares is $200 million and they carry an aggregate of $11.2 million in annualized dividends.
Redemption of the Series Y Shares will be administered by Computershare Trust Company of Canada. The Series Y Shares trade on the Toronto Stock Exchange under the symbol TCA.Pr.Y. The regular quarterly dividend of $0.70 per share for the period up to but excluding February 1, 2014 to be paid on February 3, 2014 to shareholders of record at the close of business on December 31, 2013 will be paid as previously announced.
The Series Y Shares will be delisted on or about March 5, 2014.
Its sister issue, TCA.PR.X was redeemed last October.
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TCA.PR.Y To Be Redeemed
TransCanada Corporation has announced:
Its sister issue, TCA.PR.X was redeemed last October.
This entry was posted on Monday, January 27th, 2014 at 6:54 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.