The company behind the Keystone XL pipeline is reporting lower fourth quarter profit.
TransCanada says profits fell 19 percent this year because it’s getting less money from its power business and some natural gas pipelines.
But it still raised its dividend by five percent, and the company still plans to finish 12 billion dollars worth of projects over the next three years.
That includes the Keystone XL oil sands line from Hardisty to the U.S. Gulf Coast, which will cost 5.3 billion dollars.
The company hopes to have that project in service late next year or in early 2015.
February 12, 2013
