TC PipeLines, LP Increases Second Quarter Cash Distribution

TC PipeLines, LP (NASDAQ:TCLP) reports a 2011 cash distribution to $0.77 per common unit, or $3.08 per unit on an annualized basis.

TC PipeLines’ President, Steve Becker says,

The overall amount of predictable cash flows for the Partnership has increased due to the long term contracts from the recently acquired 25 percent ownership interest in each of Gas Transmission Northwest and Bison Pipeline. As we move forward, we expect the Partnership to remain an attractive financing option to TransCanada as they complete their significant capital program.

For the complete press release, click here.