TransCanada Corp. (NYSE: TRP; TO: TRP) reported TransCanada PipeLines Ltd. authorized the redemption of all the company's 4 million outstanding 5.60 per cent cumulative redeemable first preferred shares series U on Oct. 15.
The series U shares will be redeemed at $50 per share plus $0.5907 representing accrued and unpaid dividends to such redemption date. The total face value of the outstanding series U shares is $200 million and they carry an aggregate of $11.2 million in annualized dividends.
The redemption of the series U shares will be administered by Computershare Trust Co. of Canada. The series U shares trade on the Toronto Stock Exchange under the symbol TCA.Pr.X.
TransCanada Corp. operates as an energy infrastructure company in North America. The company is headquartered in Calgary.
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