TransCanada Corp said it expects comparable earnings before interest, taxes, depreciation and amortization (EBITDA) to grow at an average rate of about 10 percent through 2020.
TransCanada, which is holding an investor day on Tuesday, also said it expects to grow its annual dividend rate at the top end of its previously estimated range of 8-10 percent through 2020. The Calgary-based company said on Monday it would restart the Keystone crude oil pipeline at reduced pressure on Tuesday, nearly two weeks after closing the line after it leaked 5,000 barrels of crude in rural South Dakota. The company on Tuesday did not provide any details on the potential impact of the pipeline closure. On Monday, TransCanada also asked the Nebraska Public Service Commission to reconsider its order approving an alternate, more expensive route for the pipeline. (Reporting by Ahmed Farhatha in Bengaluru and Ethan Lou in Calgary; Editing by Maju Samuel)