Over the past 15 years we have chosen to focus on three lines of business, giving us both investment diversity and important geographic overlap that has resulted in shared technical, stakeholder and operating expertise in each of our core markets. This has also allowed us to realize material efficiencies in terms of operating costs and financial synergies.
With $46 billion in commercially secured capital projects planned from now until the end of the decade, we are aiming to transform the company by nearly doubling the asset base to more than $90 billion by 2020. Virtually all of the revenue streams from these facilities are secured by long-term contracts or regulated cost-of-service business models, a prudent approach that positions us to weather the uncertainties of market cycles over the long-term.
Incremental contributions from $3.8 billion of assets we placed into service helped increase earnings and cash flow in 2014.
Sticking to our strategy has paid off. Since 2000, our common shares have provided a 15 per cent average annual total shareholder return. A stable and growing dividend has contributed to this performance. The Board of Directors has raised the dividend every year, from $0.80 per share in 2000 to $2.08 in 2015. Looking forward, the stage has been set for unprecedented growth that will enable TransCanada to become North America’s pre-eminent energy infrastructure company and deliver superior total returns to our shareholders.
Our existing operations provide a solid foundation to help fund our capital program and underpin dividend growth going forward. Incremental contributions from $3.8 billion of assets we placed into service helped increase earnings and cash flow in 2014. Over the next three years, we have $12 billion in small to medium-sized growth projects that are expected to generate predictable growth in earnings, cash flow and dividends. TransCanada’s occupational and facility safety records continue to be among the best in the industry.
All the conditions are in place for TransCanada to generate significant value and shareholder returns in the years ahead. We have an enduring business strategy that has a proven track record over the past 15 years. We will remain focused on maximizing the value of our existing assets and executing on our $46-billion portfolio of commercially secured growth projects. And we will continue to pursue the low-risk organic growth opportunities generated from our expanding asset base across North America.
Our strong balance sheet and credit ratings provide the financial flexibility to execute our ambitious growth plan, take advantage of new opportunities when and where they make sense and allow us to access significant capital on compelling terms at all points of the economic cycle. We will continue to evaluate funding alternatives and portfolio management to enhance shareholder returns, including following through on our commitment to sell our remaining U.S. natural gas pipeline assets to our master limited partnership, TC PipeLines, LP.
Our goal is to maximize long-term shareholder value, with an unwavering focus on per-share performance. As we advance our portfolio of commercially secured capital growth projects through the end of the decade we expect to generate significant sustainable growth in earnings, cash flow and dividends.
A strong balance sheet provides the financial strength and flexibility to execute our ambitious growth plan.