TC Energy Corp. expects annual dividend growth to slow beyond 2021

Must Read

United Way of Northern BC provides over $508,000 in grants during the first round of allocations

PRINCE GEORGE, B.C. - The United Way of Northern BC (UWNBC) has completed their first round of...

WorkSafeBC investigating serious workplace incident at an oil and gas site

FORT ST. JOHN, B.C. - There are reports of a workplace death that took place on the morning of...

Boosted climate action tax credit can give B.C. families an additional $450

VICTORIA, B.C. - More than 80% of individuals and families in British Columbia are set to receive...

CALGARY — TC Energy Corp. says it expects its dividend to grow at an annual rate of eight to 10 per cent through 2021, but then growth in its regular payments to shareholders is expected to slow.

The pipeline company says that beyond 2021 it expects its dividend to grow at an average annual rate of five to seven per cent.

The company formerly known as TransCanada Corp. made the comments ahead of its annual investor day.

- Advertisement -

Community Interviews with Moose FM

It noted that the slower pace is consistent with the average annual increases in its dividend since 2000 and is based on its outlook for future organic growth.

TC Energy noted the rate of growth could be boosted by strategic acquisitions, or what it called transformational opportunities.

The company has declared a quarterly dividend of 75 cents per share for the quarter ending Dec. 31 for an annual yield of about 4.4 per cent.

This report by The Canadian Press was first published Nov. 19, 2019.

Companies in this story: (TSX:TRP)

The Canadian Press

More Articles Like This