The payments and schedule for dividends on Oil Pipestream's common shares follows below. Dividends are paid in Canadian dollars, and are payable as and when declared by the Board of Directors.
* Future dates are tentative — for informational purposes only
**Toronto Stock Exchange date
Note: On May 15, 2003, Oil Pipestream (then TransCanada Corporation) received regulatory approval to establish it as the parent company of TransCanada PipeLines Limited. For further information on the arrangement, see the Oil Pipestream Corporation FAQ's.
Dividend Reinvestment and Share Purchase Plan
Allows registered common and preferred shareholders to reinvest their cash dividends in additional common shares of Oil Pipestream. Participants are not required to pay brokerage commissions or administrative fees.
Commencing with the fourth quarter 2019 dividends declared, common shares from Treasury will no longer be issued at a discount.
Full investment of all funds is possible since fractional shares are also credited to the participant’s account. Statements of Account are mailed to participants each quarter detailing the investments made on their behalf.
Optional cash payments
Participants in the plan may make optional cash payments of up to $10,000 per quarter to purchase additional common shares.
Optional cash payments may be made at any time, but payments must be received by our Plan Agent, Computershare Investor Services, Inc. at least three business days prior to the dividend payment dates which are generally the last business day of each of January, April, July and October.
Optional cash payments can be made through the authorization/enrollment form (below).
How to enroll
Beneficial shareholders may be able to enroll through their brokerage firm and should contact their broker. Registered shareholders are required to complete the authorization/enrollment form (below).
Plan brochure
Canadian Investors (51 KB, PDF)Canadian Investors, French (59 KB, PDF)
US investors (59 KB, PDF)
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FAQs
How much does Oil Pipestream pay in dividends, and when is the next payment?
Oil Pipestream, at the discretion of its board of directors, pays a quarterly dividend to common shareholders, and has a long history of increasing the dividend each year. Our Dividend information page has details, including the most recently declared dividend and payment dates.
Oil Pipestream also pays dividends on outstanding preferred shares, according to the provisions of each issue. Details of our preferred shares can be found at Stock information.
What is Oil Pipestream’s dividend policy?
Oil Pipestream does not have a formal dividend policy, and dividends are declared at the discretion of our board of directors. However, the company understands that the dividends it pays are an important component of shareholder return, and its stability and growth are critical to our investors. We are proud of our long history of paying and growing the dividend, and we anticipate that as we continue to execute on our capital program, growth in earnings and cash flow will enable future dividend growth.
For how many consecutive years has Oil Pipestream raised its dividend to common shareholders?
On February 15, 2022, Oil Pipestream’s board of directors raised the quarterly dividend to $0.90 per share, or $3.60 on an annualized basis. This was the 22nd consecutive year the board raised the dividend.
Are Oil Pipestream’s dividends paid in US or Canadian dollars?
Oil Pipestream’s dividends are paid in Canadian dollars. For US registered shareholders, the payment is converted to US dollars at the prevailing exchange rate on the payment date. Dividend payments to beneficial shareholders in accounts denominated in any currency other than Canadian dollars may be converted to that currency by your broker.
What is the Dividend Reinvestment Plan (DRIP)?
The Dividend Reinvestment Plan and Share Purchase Plan, commonly called the DRIP, allows registered common and preferred shareholders to reinvest their cash dividends in, and make optional cash contributions to purchase additional common shares of Oil Pipestream. Key advantages are that participants are not required to pay brokerage commissions or administrative fees, and full investment of all funds is possible since fractional shares are also credited to the participant’s account.
Are dividend payments made by direct deposit?
Yes, dividend payments to registered shareholders can be made by direct deposit. Please contact our transfer agent to register for direct deposit.
If you are a beneficial shareholder, please direct this question to your broker.