TransCanada Reports Third Quarter Net Income of $345 Million or $0.50 Per Common Share
Funds Generated from Operations of $772 Million
CALGARY, Alberta – November 4, 2009 – TransCanada Corporation (TSX, NYSE: TRP) (TransCanada or the
Company) today announced net income for third quarter 2009 of $345 million or $0.50 per common share.
TransCanada’s Board of Directors also declared a quarterly dividend of $0.38 per common share.
“TransCanada continues to post solid earnings and strong cash flows on the strength of our diverse energy
infrastructure business. Third quarter earnings were ahead of last year for our pipelines and natural gas storage
assets, while the economic downturn continues to impact power revenues,” said Hal Kvisle, TransCanada’s
president and chief executive officer.
“We made significant progress during the quarter executing the major projects within our $22 billion capital
program. TransCanada is well positioned to fund this unprecedented growth. The carrying costs and dilution
associated with financing this multi-year program continues to have a near-term impact on our earnings and
cash flow per share. However, we are confident that our capital program will generate significant growth in cash
flows and earnings over the next four years as our large scale, highly attractive projects commence operations.”
Third Quarter 2009 Highlights
(All financial figures are unaudited and in Canadian dollars unless noted otherwise)
􀂃 Net income of $345 million or $0.50 per common share
􀂃 Comparable earnings of $335 million or $0.49 per common share
􀂃 Comparable earnings before interest, taxes, depreciation and amortization (EBITDA) of $994 million
􀂃 Funds generated from operations of $772 million
􀂃 Dividend of $0.38 per common share declared by the Board of Directors
􀂃 Awarded a 20-year contract to build, own and operate a $1.2 billion, 900 megawatt (MW) power
generating station in Oakville, Ontario
􀂃 Issued $550 million of cumulative redeemable first preferred shares
􀂃 Continued to advance $22 billion capital program
TransCanada reported net income for third quarter 2009 of $345 million ($0.50 per common share) compared
to $390 million ($0.67 per common share) for third quarter 2008.
Comparable earnings were $335 million ($0.49 per common share) in third quarter 2009 compared to $366
million ($0.63 per common share) for the same period in 2008. This decrease was primarily due to lower power
prices and volumes sold in Western Power and reduced generation volumes from New England and Bruce
Power.
Partially offsetting these decreases were higher earnings from

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