TransCanada posts Q4 loss on Keystone-related charge

Thu Feb 11, 2016 7:48am EST
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Feb 11 (Reuters) - TransCanada Corp , Canada's second-largest pipeline company, reported a quarterly loss as it recorded a C$2.9 billion after-tax impairment charge related to the proposed Keystone XL pipeline.

The company reported a net loss attributable to shareholders of C$2.46 billion ($1.76 billion), or C$3.47 per share, in the fourth quarter ended Dec. 31, from a profit of C$458 million, or 65 Canadian cents per share, a year earlier.

U.S. President Barack Obama rejected the proposed Keystone XL oil pipeline from Canada in November, in a victory for environmentalists who campaigned against the project for more than seven years. ($1 = 1.3962 Canadian dollars) (Reporting by Tanvi Mehta in Bengaluru; Editing by Don Sebastian)