CALGARY, ALBERTA--(Marketwire - Feb. 14, 2012) - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced that the Board of Directors (Board) of TransCanada declared a quarterly dividend of $0.44 per common share for the quarter ending March 31, 2012 on the Company's outstanding common shares, a five per cent increase over the $0.42 per share paid in each of the previous four quarters. The common share dividend is payable on April 30, 2012 to shareholders of record at the close of business on March 30, 2012.
Even with the problems of the Keystone Pipeline, TransCanada was able to increase their dividend by 5% today. The current dividend payout ratio for TRP is 83% which is a little high for my liking. This is the 12th consecutive dividend increase since 2000 when TransCanada cut its dividend by 29% as seen in the chart below: