Why Invest
What makes TransCanada a solid investment for long-term growth? Our proven strategy, financial strength, diversified high-quality assets providing multiple platforms for growth, dividend growth and financial discipline.
Proven Track Record
For more than 65 years we’ve delivered on our commitment to meet the ever-increasing demand for energy in a safe and sustainable manner. We’ve provided significant value to our shareholders with a 13% average annual return since 2000 and increased our dividend in each year since.
Financial Strength
Our financial position remains strong with a solid balance sheet and numerous levers available to fund growth.
Diversified High-Quality Assets
TransCanada operates three complementary energy infrastructure businesses across three geographies in North America.
Strong Leadership
Led by President & CEO, Russell K. Girling, our highly regarded executive leadership team and thousands of inspired employees, we’re well positioned to navigate an ever-evolving energy and business environment to achieve our goals.
Visible Dividend Growth Through 2021
Since 2000, we have grown our asset base from $26 billion to $94 billion. Simultaneously, we've raised the annual dividend from $0.80 per share to $2.76 per share in 2018 (based on most recent declared quarterly dividend). Our portfolio of complementary infrastructure assets and $36 billion of secured growth projects are expected to support annual dividend growth of 8 to 10% through 2021.
Future Growth
With continued expected growth in each of our business lines, we expect to continue to grow our business for decades to come, delivering growing returns to our investors.
Featured Reports & Filings
Our Financial Snapshot
| Year Ended December 31 (Millions Of Dollars) | 2013 | 2014 | 2015 | 2016 | 2017 | ||
|---|---|---|---|---|---|---|---|
| Income | |||||||
| Net income/(loss) attributable to common shares | 1,712 | 1,743 | (1,240) | 124 | 2,997 | ||
| Comparable earnings (1) | 1,584 | 1,715 | 1,755 | 2,108 | 2,690 | ||
| Cash Flow | |||||||
| Net cash provided by operations | 3,794 | 4,226 | 4,384 | 5,069 | 5,230 | ||
| Comparable funds generated from operations (1) | 4,040 | 4,458 | 4,815 | 5,171 | 5,641 | ||
| Capital spending and acquisitions (2) | 5,131 | 4,834 | 5,158 | 19,675 | 9,210 | ||
| Balance Sheet | |||||||
| Total assets | 53,778 | 58,407 | 64,398 | 88,051 | 86,101 | ||
| Long-term debt | 22,745 | 24,639 | 31,456 | 40,150 | 34,741 | ||
| Junior subordinated notes | 1,063 | 1,160 | 2,409 | 3,931 | 7,007 | ||
| Preferred shares | 1,813 | 2,255 | 2,499 | 3,980 | 3,980 | ||
| Common shareholders' equity | 16,712 | 16,815 | 13,939 | 20,277 | 21,059 | ||
Common Share Statistics
| Year Ended December 31 | 2013 | 2014 | 2015 | 2015 | 2017 | ||
|---|---|---|---|---|---|---|---|
| Net income/(loss) per share - basic | $2.42 | $2.46 | ($1.75) | $0.16 | $3.44 | ||
| Net income/(loss) per share - diluted | $2.42 | $2.46 | ($1.75) | $0.16 | $3.43 | ||
| Comparable earnings per share (1) | $2.24 | $2.42 | $2.48 | $2.78 | $3.09 | ||
| Dividends declared per share | $1.84 | $1.92 | $2.08 | $2.26 | $2.50 | ||
| Common Shares Outstanding (Millions) | |||||||
| Weighted average for the year | 707 | 708 | 709 | 759 | 872 | ||
| End of year | 707 | 709 | 703 | 864 | 881 | ||
| Market Price – Close | |||||||
| Toronto Stock Exchange (Canadian dollars) | $48.54 | $57.10 | $45.19 | $60.54 | $61.18 | ||
| New York Stock Exchange (US dollars) | $45.66 | $49.10 | $32.59 | $45.15 | $48.64 | ||
1Non-GAAP measure that does not have any standardized meaning prescribed by generally accepted accounting principles. For more information see Non-GAAP Measures in the Management's Discussion and Analysis of the 2017 Annual Report.
2Includes capital expenditures, capital projects in development and contributions to equity investments.
Credit Ratings
Credit ratings are intended to provide investors with an independent measure of credit quality of an issue of securities. Credit ratings are not recommendations to purchase, hold or sell securities and do not address the market quality or suitability of a specific security for a particular investor. These are assigned by credit rating agencies such as Moody's, Standard & Poor's, Fitch, and DBRS. While TransCanada Corporation has a credit rating it is not an issuer of debt securities. Debt securities are held at TransCanada PipeLines Limited or subsidiary companies.
TransCanada Pipelines Limited
| Standard & Poor's | Moody's Investor Service | Fitch | DBRS | |
|---|---|---|---|---|
| Senior unsecured | BBB+ | A3 | A- | A (low) |
| Trend/rating outlook | Stable | Negative | Stable | Stable |