TransCanada Declares Quarterly Dividends

TransCanada Declares Quarterly Dividends 
CALGARY, ALBERTA -- (Marketwire) -- 10/30/12 -- 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 $0.44 per common share for the quarter ending
December 31, 2012, on the Company's outstanding common shares. The
common share dividend is payable on January 31, 2013, to shareholders
of record at the close of business on December 31, 2012. 
The Board also declared the following regular dividends on
TransCanada's preferred shares: 


 
--  A quarterly dividend of $0.2875 per share for the period ending December
    31, 2012, on TransCanada's outstanding Cumulative Redeemable First
    Preferred Shares, Series 1. The dividend is payable on December 31,
    2012, to shareholders of record at the close of business on November 30,
    2012. 
--  A quarterly dividend of $0.25 per share for the period ending December
    31, 2012, on TransCanada's outstanding Cumulative Redeemable First
    Preferred Shares, Series 3. The dividend is payable on December 31,
    2012, to shareholders of record at the close of business on November 30,
    2012. 
--  A quarterly dividend of $0.275 per share for the period ending January
    30, 2013, on TransCanada's outstanding Cumulative Redeemable First
    Preferred Shares, Series 5. The dividend is payable on January 30, 2013,
    to shareholders of record at the close of business on December 31, 2012.

 
In addition, the Board declared the following regular dividends on
TransCanada PipeLines Limited (TCPL) preferred shares: 


 
--  A quarterly dividend of $0.70 per share for the period ending January
    30, 2013, was declared on the outstanding Cumulative Redeemable First
    Preferred Shares Series U. The dividend is payable on January 30, 2013,
    to shareholders of record at the close of business on December 31, 2012.
--  A quarterly dividend of $0.70 per share for the period ending February
    1, 2013, was declared on the outstanding Cumulative Redeemable First
    Preferred Shares Series Y. The dividend is payable on February 1, 2013,
    to shareholders of record at the close of business on December 31, 2012.

 
These dividends are designated by TransCanada and TCP
L 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
five-day weighted average purchase price. The DRP is available for
dividends payable on TransCanada's common and preferred shares and
TCPL's preferred shares. 
With more than 60 years' experience, TransCanada is a leader in the
responsible development and reliable operation of North American
energy infrastructure, including natural gas and oil pipelines, power
generation and gas storage facilities. TransCanada operates a network
of natural gas pipelines that extends more than 68,500 kilometres
(42,500 miles), tapping into virtually all major gas supply basins in
North America. TransCanada is one of the continent's largest
providers of gas storage and related services with approximately
380-billion cubic feet of storage capacity. A growing independent
power producer, TransCanada owns or has interests in more than 10,900
megawatts of power generation in Canada and the United States.
TransCanada is developing one of North America's largest oil delivery
systems. TransCanada's common shares trade on the Toronto and New
York stock exchanges under the symbol TRP. For more information
visit: www.transcanada.com/ or check us out on Twitter @TransCanada. 
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",
"would" 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 financial and operation plans and outlook.
All forward-looking statements reflect TransCanada's beliefs and
assumptions based on information available at the time the statements
were made. Readers are cautioned not to place undue reliance on this
forward-looking information. 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 TransCanada's Management's
Discussion and Analysis filed February 15, 2012 under TransCanada's
profile on SEDAR at www.sedar.com and other reports filed by
TransCanada with Canadian securities regulators and with the U.S.
Securities and Exchange Commission.
Contacts:
TransCanada
Media Enquiries:
Shawn Howard/Grady Semmens
403.920.7859 or Toll Free: 800.608.7859 
TransCanada
Investor & Analyst Enquiries:
David Moneta/Terry Hook/Lee Evans
403.920.7911 or Toll Free: 800.361.6522
www.transcanada.com