OREANDA-NEWS. TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Company) today announced that the Board of Directors (Board) of TransCanada declared a quarterly dividend of USD 0.52 per common share for the quarter ending March 31, 2015, on the Company's outstanding common shares. This is an increase of eight per cent over the USD 0.48 dividend per share paid in each of the previous four quarters. The common share dividend is payable on April 30, 2015, to shareholders of record at the close of March 31, 2015.

The Board also declared the following regular dividends on TransCanada's preferred shares:

A quarterly dividend of USD 0.204125 per share for the period up to but excluding March 31, 2015, on TransCanada's outstanding Cumulative Redeemable First Preferred Shares, Series 1. The dividend is payable on March 31, 2015, to shareholders of record at the close of business on March 2, 2015.

A quarterly dividend of USD 0.173527 per share for the period up to but excluding March 31, 2015, on TransCanada's outstanding Cumulative Redeemable First Preferred Shares, Series 2. The dividend is payable on March 31, 2015, to shareholders of record at the close of business on March 2, 2015.

A quarterly dividend of USD 0.25 per share for the period up to but excluding March 31, 2015, on TransCanada's outstanding Cumulative Redeemable First Preferred Shares, Series 3. The dividend is payable on March 31, 2015, to shareholders of record at the close of business on March 2, 2015.

A quarterly dividend of USD 0.275 per share for the period up to but excluding April 30, 2015, on TransCanada's outstanding Cumulative Redeemable First Preferred Shares, Series 5. The dividend is payable on April 30, 2015, to shareholders of record at the close of business on March 31, 2015.

A quarterly dividend of USD 0.25 per share for the period up to but excluding April 30, 2015, on TransCanada's outstanding Cumulative Redeemable First Preferred Shares, Series 7. The dividend is payable on April 30, 2015, to shareholders of record at the close of business on March 31, 2015.

A quarterly dividend of USD 0.265625 per share for the period up to but excluding April 30, 2015, on TransCanada's outstanding Cumulative Redeemable First Preferred Shares, Series 9. The dividend is payable on April 30, 2015, to shareholders of record at the close of business on March 31, 2015.

These dividends are designated by TransCanada to be eligible dividends for purposes of the Income Tax Act (Canada) and any similar provincial or territorial legislation. An enhanced dividend tax credit applies to eligible dividends paid to Canadian residents.

Common shares purchased with reinvested cash dividends under TransCanada's Dividend Reinvestment and Share Purchase Plan (DRP) will be acquired on the Toronto Stock Exchange at 100 per cent of the weighted average purchase price. The DRP is available for dividends payable on TransCanada's common and preferred shares.