Welcome to our dedicated page for Tc Energy Corporation news (Ticker: TRP), a resource for investors and traders seeking the latest updates and insights on Tc Energy Corporation stock.
TC Energy Corporation (TRP) is a leading energy infrastructure company headquartered in Calgary, Alberta, Canada. With a robust portfolio of natural gas, oil, and power generation assets across North America, TC Energy plays a pivotal role in safely delivering the energy that powers homes, businesses, and industries. The company operates more than 60,000 miles of oil and gas pipelines and has over 650 billion cubic feet of natural gas storage capacity. Additionally, it boasts around 4,300 megawatts of electric power generation capacity.
For over 60 years, TC Energy has committed to sustainable operations, focusing on safety, environmental stewardship, and economic efficiency. This dedication is evident in their proactive approach to addressing global energy demands and driving innovation in energy conservation and efficiency. The company's operations are divided into three primary business segments: natural gas pipelines, liquid pipelines, and energy.
TC Energy is not only significant for its extensive infrastructure but also for its collaborative engagement with stakeholders, ensuring a balanced consideration of societal, environmental, and economic factors in its operations. Recently, the company announced a plan to spin off its Liquids Pipelines business, forming a new entity named South Bow Corporation, which will focus on independent, investment-grade opportunities.
On the financial front, TC Energy continues to deliver solid performance, evidenced by its recent increase in common share dividends for the twenty-fourth consecutive year. Moreover, the company’s management team actively engages with the investment community and stakeholders through regular updates and transparent reporting. Notably, TC Energy's first quarter 2024 financial results will be discussed in an upcoming webcast, showcasing the company's ongoing developments and financial health.
As TC Energy forges ahead, it remains committed to advancing strategic priorities aimed at maximizing shareholder returns and creating long-term value for communities. The company’s common shares are traded on the Toronto (TSX) and New York (NYSE) stock exchanges under the symbol TRP. For more information, visit TC Energy.
The Chemours Company (NYSE: CC) and TC Energy (NYSE: TRP) have signed a memorandum of understanding (MOU) to develop two hydrogen production facilities in West Virginia. This initiative is aligned with their participation in the Appalachian Regional Clean Hydrogen Hub (ARCH2) and aims to support decarbonization efforts. The facilities will utilize electrolysis technology and Chemours' Nafion ion exchange membranes. A non-binding off-take agreement is planned for the hydrogen produced, with excess supply available for nearby commercial users. Chemours emphasizes how this project aligns with their greenhouse gas reduction goals, while TC Energy aims to enhance clean energy production capabilities in the region.
TC Energy Corporation (TRP) is set to release its first quarter 2023 financial results on April 28, 2023, before market open. A conference call will follow the announcement at 6:30 a.m. MDT to discuss financial performance and recent developments. Interested parties can join via phone or a live audio webcast. Additionally, the annual meeting for common shareholders will occur on May 2, 2023, at 2:00 p.m. MDT, also in a virtual-only format, allowing participation from anywhere. Forward-looking statements are included in the release, cautioning investors regarding potential risks and uncertainties that may affect future performance. TC Energy is focused on advancing sustainable and secure energy solutions across North America, emphasizing innovation in reducing emissions and investing in community partnerships.
TC Energy Corporation (NYSE: TRP) has filed its audited consolidated financial statements for the year ended December 31, 2022, along with the management's discussion and analysis. Additionally, the company submitted its Annual Information Form and Form 40-F with the U.S. SEC. Shareholders can access these documents through the SEDAR and SEC websites, as well as the company's investor section. TC Energy is focused on sustainable energy solutions, including natural gas, renewables, and carbon capture. This strategic approach underlines its commitment to reducing emissions and innovating energy practices.
TC Energy Corporation (NYSE: TRP) declared a quarterly dividend of $0.93 per common share for the quarter ending March 31, 2023. The dividend is payable on April 28, 2023, to shareholders on record by March 31, 2023. Cumulative First Preferred Shares dividends include amounts ranging from $0.105875 to $0.3772760 per share, with payment dates extending to May 1, 2023. These dividends are eligible for tax credits under the Income Tax Act for Canadian residents. Additionally, a 2% discount on common shares through a Dividend Reinvestment Plan (DRP) was approved.
TC Energy Corporation (TRP) reported its fourth quarter results, indicating a record-setting year with comparable earnings per common share of $4.30 and comparable EBITDA of $9.9 billion. The Board has declared a 3.3% increase in the dividend to $0.93 per common share for Q1 2023, marking the twenty-third consecutive year of dividend increases. For 2023, comparable EBITDA is projected to be 5-7% higher than in 2022, with capital spending estimated between $11.5 to $12 billion. Despite strong operational performance, TC Energy faces challenges, such as an environmental remediation liability of $650 million and a cost increase for the Coastal GasLink pipeline project, now estimated at $14.5 billion.
TC Energy Corporation (TRP) has updated cost estimates for the Coastal GasLink Project, now projected at approximately $14.5 billion. This estimate arises from several cost pressures including labor shortages, contractor disputes, and adverse weather conditions. The company anticipates that project completion may extend into 2024, potentially increasing costs by an additional $1.2 billion. The project is currently 83% complete, with key milestones expected soon, including the introduction of natural gas at the Wilde Lake Compressor Facility. TC Energy also revised its 2023 capital expenditure outlook to $11.5-$12.0 billion, reflecting delays and increased costs.
TC Energy Corporation (TRP) will hold a teleconference on February 14, 2023, at 6:30 a.m. MST, to discuss its fourth quarter financial results, which will be released pre-market. Key executives, including President François Poirier and CFO Joel Hunter, will present insights on the company's financial performance and updates. Investors can join via phone or live webcast, and a replay will be available until February 21, 2023. TC Energy focuses on sustainable energy solutions and reducing emissions. The company aims to innovate and partner with communities for a cleaner energy future.
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