TransCanada Pipelines put down the scalpel last week and took upthe ax. Having determined the path toward improved financial healthmust involve some painful surgery, the company decided to lop off15% of its asset base in exchange for expected proceeds of about$3.6 billion (net $3 billion), which will be used to pay down debt.It also decided to trim its dividend by a hefty 30% to $0.80/share.
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