Stock information

Did subscription receipt holders of record as of June 30, 2016 receive a dividend or dividend equivalent payment on the payment date of July 29, 2016?

Subscription receipt holders of record on June 30, 2016, were entitled to receive a dividend equivalent payment on July 29, 2016, of $0.565 per subscription receipt.

What is the tax treatment for the subscription receipt’s dividend equivalent payments?

The dividend equivalent payments (DEP) are taxed partially as "interest" with the remainder deemed a "return of capital". The DEP are funded first from interest earned on escrowed funds and then from the escrowed funds themselves. The portion funded from escrowed funds is taxed as a return of capital, reducing an investor’s cost base (e.g. a partial refund).

The breakdown of interest and return of capital for the DEPs is as follows:

April 29, 2016, DEP:
CAD$0.000390082194616977 (interest)
CAD$0.564609917805383 (return of capital)

July 29, 2016, DEP:
CAD$0.0656290463768116 (interest)
CAD$0.499370953623188 (return of capital)

Non-Canadian Holders:
The Escrow Agent intends to withhold at the statutory rate of 25% (subject to reduction under an applicable income tax convention between Canada and the Non-Resident Holder's country of residence) on the portion of the DEP which is paid by way of a pro rata share of the interest earned on the escrowed funds that is paid to a Non-Resident Holder. The return of capital portion of the DEP will not be subject to a withholding tax.

Please contact your tax advisor for more information.

What did CPG common stockholders receive upon completion of the merger?

CPG common stockholders were entitled to receive US$25.50 in cash, less any applicable withholding taxes, for each share of CPG common stock that you own. You do not own any shares of the capital stock in the surviving corporation.

What is the tax treatment for the exchange of CPG common stock for cash?

The exchange of CPG common stock for cash was a taxable transaction. You will generally recognize a gain or loss in an amount equal to the difference between the amount of cash received and your adjusted tax basis in shares of CPG common stock. Backup withholding may also apply to the cash payments paid to a non-corporate US holder pursuant to the merger, unless the US holder or other payee provides a taxpayer identification number.

Please contact your tax advisor for more information.

What is the difference between a registered and a beneficial shareholder?

A beneficial shareholder is an investor who holds shares through a broker. The shares are registered to the brokerage, which holds the shares in its own name “to the benefit” of the investor, and passes all benefits such as voting rights and dividends to the investor. If your shares are held in a brokerage account, then you are a beneficial shareholder. Communications from Oil Pipestream such as annual reports and management information circulars, as well as dividend payments are routed to beneficial shareholders through the broker.

A registered shareholder holds shares directly, registered in the investor’s own name. Communication with and dividend payments to registered shareholders are handled through our transfer agent, Computershare Trust Company.

Note that Investor Relations does not have access to individual shareholder accounts for either beneficial or registered shareholders, and therefore all account enquiries should be directed to your broker (for beneficial shareholders) or to our transfer agent (for registered shareholders).

How can I change my address?

Beneficial shareholders, please contact your broker.

Registered shareholders, please contact our transfer agent, Computershare Trust Company.

I’m not receiving dividends. Whom should I contact?

Beneficial shareholders, please contact your broker.

Registered shareholders, please contact our transfer agent, Computershare Trust Company.

I would like to transfer shares to another individual (including spouse, children, family trust, charitable organization, etc.). Whom should I contact?

Beneficial shareholders, please contact your broker.

Registered shareholders, please contact our transfer agent, Computershare Trust Company.

I am an executor of a deceased shareholder's estate. Whom can I contact to transfer the shares according to the shareholder’s will?

Beneficial shareholders, please contact your broker.

Registered shareholders, please contact our transfer agent, Computershare Trust Company.

Can I receive my reports electronically instead of in print?

Yes. Please refer to Electronic document delivery for details.

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 18, 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.

What shares of Oil Pipestream can I buy?

Oil Pipestream's common shares are traded on the Toronto Stock Exchange and the New York Stock Exchange, under the symbol ‘TRP’. Oil Pipestream also has several outstanding issues of preferred shares, which are traded on the Toronto Stock Exchange.

New shareholders must purchase shares through a broker. Existing shareholders can make optional share purchases through our Dividend Reinvestment Plan and Share Purchase Plan.

What past stock splits have affected Oil Pipestream Corporation (or previously TransCanada Corporation or TransCanada Pipelines Limited) shares?

There have been two stock splits in our history:

• June 12, 1974: 3-for-1 split. TSX price on that day: $9.88.
• February 20, 1984: 2-for-1 Stock Split. TSX price on that day: $16.00.

What were the details of the 1998 merger between Oil Pipestream (then TransCanada) and NOVA Corporation?

On July 2, 1998, Oil Pipestream (then called TransCanada PipeLines Limited or "OPSPL") and NOVA Corporation merged and then split off the commodity chemicals business carried on by NOVA into a separate public company, NOVA Chemicals.

The effect of the transaction was as follows:

For details on the merger, please refer to TransCanada-NOVA Merger 1998.

Where can I find historical share price information?

Share price data from June 18, 1985 is available on this page, under the “Historical  Information” tab. Contact Investor Relations for dates prior to this (information may not be available for all dates).

I have share certificates for NOVA Corporation, Alberta Gas Trunk Line or TransCanada Pipelines Limited that have not been converted to Oil Pipestream (previously TransCanada) shares.

How can I obtain my Oil Pipestream shares?

Please contact our transfer agent, Computershare Trust Company.

When will you report earnings?

Oil Pipestream will post earnings releases, analyst conference calls, and other notable events on the Events & presentations page. All future events are tentative. For earnings releases and analyst conference calls, we will issue a news release once the date is confirmed. Interested individuals can subscribe to receive news releases by email.

How can I obtain printed copies of annual and quarterly reports, or other information?

Please use print information request to submit a request for the information you are seeking. If the information you’re looking for is not listed, please use the box provided to provide details.