TC PipeLines, LP announces second quarter 2020 cash distribution

Rhea-AI Summary

TC PipeLines, LP (NYSE: TCP) announced a cash distribution of $0.65 per common unit for Q2 2020, consistent with Q1 2020. This marks the 85th consecutive quarterly distribution and is scheduled for payment on August 14, 2020 to unitholders recorded by August 3, 2020. The partnership operates eight federally regulated U.S. interstate natural gas pipelines serving various markets across the United States, managed by TC PipeLines GP, Inc., a subsidiary of TC Energy Corporation.

Positive

• Consistent cash distribution of $0.65 per common unit for Q2 2020, maintaining stability in payouts.
• Achieved 85 consecutive quarterly distributions, indicating strong performance and reliable cash flow.

Negative

• None.

HOUSTON, July 23, 2020 (GLOBE NEWSWIRE) -- News Release – 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 second quarter 2020 cash distribution of $0.65 per common unit. The distribution is unchanged from the distribution declared for the first quarter of 2020.

This cash distribution is the 85^th consecutive quarterly distribution paid by the Partnership and is payable on August 14, 2020 to unitholders of record at the close of business on August 3, 2020.

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.

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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/90b11e9b-0c8b-4581-a403-d416fbc9bae8

FAQ

What is the cash distribution amount for TC PipeLines, LP in Q2 2020?

The cash distribution amount for Q2 2020 is $0.65 per common unit.

When is the cash distribution for TC PipeLines, LP scheduled to be paid?

The cash distribution is scheduled to be paid on August 14, 2020.

How many consecutive quarterly distributions has TC PipeLines, LP made?

TC PipeLines, LP has made 85 consecutive quarterly distributions.

What are the record dates for the cash distribution of TC PipeLines, LP?

The record date for the cash distribution is August 3, 2020.