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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  TransCanada Corporation       CA89353D1078

TRANSCANADA CORPORATION

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End-of-day quote. End-of-day quote Toronto Stock Exchange - 05/10
62.95 CAD   -0.11%
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TransCanada Corporation : announces shareholder approval of corporate name change and 2019 annual and special meeting Board of Directors election results

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05/03/2019 | 06:28pm EDT

CALGARY, Alberta, May 03, 2019 (GLOBE NEWSWIRE) -- News Release – TransCanada Corporation (TSX, NYSE: TRP) (TransCanada or the Company) today announced that shareholders representing approximately 99.55% per cent of votes cast approved a special resolution authorizing the Company to amend its articles to change its name to:

TC Energy Corporation
Corporation TC Énergie

The common shares of the Company will continue to trade on the Toronto Stock Exchange (TSX) and the New York Stock Exchange (NYSE) under its existing trading symbol, TRP. The Company’s preferred shares will also continue to trade on the TSX under their existing trading symbols. The effective date of the change of name will be the date of issuance of a certificate of amendment by the Director under the Canada Business Corporations Act, which we expect to receive shortly. Articles of Amendment for the name change have been filed with Corporations Canada.

Voting Results of Directors

In addition to the approval of the special resolution, shareholders also elected each of the following 12 nominees as directors of the Company on a vote by ballot to serve until the next annual meeting of shareholders of the Company, or until their successors are elected or earlier appointed:

 Nominee # Votes For % Votes For# Votes
Withheld
% Votes
Withheld
Stéphan Crétier598,634,895 99.77 1,365,426 0.23
Russell K. Girling 598,964,473 99.83 1,035,542 0.17
S. Barry Jackson 564,309,121 94.05 35,691,200 5.95
Randy Limbacher 598,109,048 99.69 1,887,531 0.31
John E. Lowe 596,309,489 99.38 3,690,612 0.62
Una Power 598,076,424 99.68 1,923,677 0.32
Mary Pat Salomone 598,073,376 99.68 1,926,945 0.32
Indira Samarasekera 570,306,476 95.05 29,693,868 4.95
D. Michael G. Stewart 592,814,246 98.80 7,186,075 1.20
Siim A. Vanaselja 530,911,086 88.49 69,089,235 11.51
Thierry Vandal 598,682,200 99.78 1,317,939 0.22
Steven W. Williams 598,849,566 99.81 1,150,778 0.19
     

Effective today, the Board of Directors welcomes our two new independent directors, Ms. Una Power and Mr. Steven Williams.

“On behalf of the Board of Directors, I am very pleased to welcome our two newest directors. Both Ms. Power and Mr. Williams bring extensive experience in the energy industry, and will prove to be valuable additions to our board,” said Siim Vanaselja, chair of TransCanada’s Board of Directors.

Ms. Power is a corporate director and also serves on the boards of the Bank of Nova Scotia and Teck Resources Limited. Previously, Ms. Power was the Chief Financial Officer of Nexen Energy ULC. Mr. Williams is a corporate director and also serves on the board of Alcoa Corporation. Previously, Mr. Williams was the Chief Executive Officer of Suncor Energy Inc.

Final voting results on all matters voted on at the meeting will be filed on SEDAR (www.sedar.com) and EDGAR (www.sec.gov) and posted to the Investors section of the Company website at www.transcanada.com by no later than Tuesday, May 7, 2019.

With more than 65 years' experience, TransCanada is a leader in the responsible development and reliable operation of North American energy infrastructure including natural gas and liquids pipelines, power generation and gas storage facilities. We operate one of the largest natural gas transmission networks that extends more than 92,600 kilometres (57,500 miles), connecting major gas supply basins to markets across North America. TransCanada is a leading provider of gas storage and related services with 653 billion cubic feet of storage capacity. A large independent power producer, we currently own or have interests in more than 6,600 megawatts of power generation in Canada and the United States. We are also the developer and operator of one of North America's leading liquids pipeline systems that extends approximately 4,900 kilometres (3,000 miles), connecting growing continental oil supplies to key markets and refineries. TransCanada's common shares trade on the Toronto and New York stock exchanges under the symbol TRP. Visit TransCanada.com to learn more, or  connect with us on social media.

FORWARD-LOOKING INFORMATION

This publication contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as "anticipate", "expect", "believe", "may", "will", "should", "estimate", "intend" or other similar words). Forward-looking statements in this document are intended to provide TransCanada security holders and potential investors with information regarding TransCanada and its subsidiaries, including management's assessment of TransCanada's and its subsidiaries' future plans and financial outlook. All forward-looking statements reflect TransCanada's beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release, and not to use future-oriented information or financial outlooks for anything other than their intended purpose. TransCanada undertakes no obligation to update or revise any forward-looking information except as required by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to the Quarterly Report to Shareholders dated May 2, 2019 and 2018 Annual Report filed under TransCanada's profile on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission at www.sec.gov.

Media Enquiries:
Grady Semmens
403.920.7859 or 800.608.7859

Investor & Analyst Enquiries:
David Moneta / Duane Alexander
403.920.7911 or 800.361.6522

 

TC_CORP_2CPOS_RGB.jpg

Source: TransCanada Corporation

2019 GlobeNewswire, Inc., source Press Releases

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Financials (CAD)
Sales 2019 14 347 M
EBIT 2019 6 769 M
Net income 2019 3 789 M
Debt 2019 49 912 M
Yield 2019 4,47%
P/E ratio 2019 16,22
P/E ratio 2020 16,36
EV / Sales 2019 7,77x
EV / Sales 2020 7,53x
Capitalization 61 536 M
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Income Statement Evolution
Consensus
 
Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 65,7  CAD
Spread / Average Target -1,4%
EPS Revisions
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NameTitle
Russell K. Girling President, CEO & Non-Independent Director
Siim Alden Vanaselja Chairman
Donald R. Marchand CFO & Executive VP-Corporate Development
Steven Barry Jackson Independent Director
Kevin E. Benson Independent Director
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