TransCanada to Build Another Pipeline in Mexico Using Capital Sustained by Relatively Strong Financial Position Reported in First Quarter

摘要

TransCanada Corp. on May 1 announced net income for first quarter 2009 of $334 million (Cdn.) with funds generated from operations for first quarter 2009 of $766 million. TransCanada's Board of Directors also declared a quarterly dividend of C$0.38 per common share. "TransCanada's solid first quarter financial performance demonstrates our ability to generate significant earnings and cash flow from our large portfolio of energy infrastructure assets," said Hal Kvisle, TransCanada's president and chief executive officer. "We are well positioned to fund our large 2009 capital program as a result of our strong internally generated cash flow and our prudent decisions to maintain TransCanada's strong financial position and liquidity during these uncertain economic times." According to Kvisle, TransCanada successfully issued C$3.1 billion of long-term debt in the first quarter and C$1.1 billion of common shares at the end of 2008. The company is proceeding with its C$19 billion capital expenditures in the Keystone oil pipeline, the North Central Corridor expansion, the Bruce Power refurbishment, and three large-scale, gas-fired power plants that will be completed and placed into service over the next four years. Comparable earnings for first quarter 2009 were $343 million.