TC PipeLines, LP announces fourth quarter 2020 cash distribution

Rhea-AI Summary

TC PipeLines, LP (NYSE: TCP) has declared a fourth quarter 2020 cash distribution of $0.65 per common unit, consistent with the previous three quarters. This marks the 87th consecutive quarterly distribution and will be payable on February 12, 2021, to unitholders of record as of January 29, 2021.

TC PipeLines, LP, a Delaware master limited partnership, operates eight federally regulated U.S. interstate natural gas pipelines, serving various U.S. markets.

Positive

• Consistent cash distribution of $0.65 per common unit maintained for four consecutive quarters.
• 87th consecutive quarterly distribution highlights strong operational reliability.

Negative

• None.

HOUSTON, Jan. 19, 2021 (GLOBE NEWSWIRE) -- TC PipeLines, LP (NYSE: TCP) (the Partnership) today announced that the board of directors of TC PipeLines GP, Inc., its general partner, declared the Partnership’s fourth quarter 2020 cash distribution of $0.65 per common unit. The distribution is unchanged from the distribution declared for the three preceding quarters of 2020.

This cash distribution is the 87^th consecutive quarterly distribution paid by the Partnership and is payable on February 12, 2021 to unitholders of record at the close of business on January 29, 2021.

About TC PipeLines, LP

TC PipeLines, LP is a Delaware master limited partnership with interests in eight federally regulated U.S. interstate natural gas pipelines which serve markets in the Western, Midwestern and Northeastern United States. The Partnership is managed by its general partner, TC PipeLines GP, Inc., a subsidiary of TC Energy Corporation (NYSE: TRP). For more information about TC PipeLines, LP, visit the Partnership’s website at www.tcpipelineslp.com.

This release serves as qualified notice to nominees under Treasury Regulation Section 1.1446-4(b)(4) and (d). Nominees, including Brokers, should treat 100 percent of TC PipeLines, LP's distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, all of the Partnership's distributions to non-U.S. investors are subject to federal income tax withholding at the highest effective tax rate for individuals or corporations, as applicable. Nominees are treated as the withholding agents responsible for withholding distributions received by them on behalf of non-U.S. investors.

Media Inquiries:                
Hejdi Carlsen / Jaimie Harding
403.920.7859 or 800.608.7859                

Unitholder and Analyst Inquiries:         
Rhonda Amundson         
877.290.2772                            
investor_relations@tcpipelineslp.com

PDF available: http://ml.globenewswire.com/Resource/Download/7c3d6147-0d9d-4c24-8441-d097d9197425

FAQ

When is the next cash distribution for TC PipeLines (TCP)?

The next cash distribution for TC PipeLines (TCP) is scheduled for February 12, 2021.

What is the amount of the fourth quarter 2020 cash distribution for TCP?

The fourth quarter 2020 cash distribution for TC PipeLines (TCP) is $0.65 per common unit.

How many consecutive quarterly distributions has TC PipeLines (TCP) paid?

TC PipeLines (TCP) has paid 87 consecutive quarterly distributions.

What are the record dates for the upcoming distribution for TCP?

The record date for the upcoming distribution for TC PipeLines (TCP) is January 29, 2021.