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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.
TC Energy Corporation (NYSE: TRP) is set to initiate pre-construction activities for the $146 million Saddlebrook Solar Project near Aldersyde, Alberta, aiming to generate 81 megawatts of energy—enough to power 20,000 homes annually. Supported by $10 million from Emissions Reduction Alberta, this marks TC Energy's first utility-scale solar project. Construction is expected to be completed in 2023, creating approximately 140 job opportunities during that phase. The project aligns with TC Energy's commitment to low-carbon energy solutions and sustainable development.
TC Energy Corporation (TSX: TRP) has successfully completed a public offering of 28.4 million common shares at $63.50 each, raising gross proceeds of approximately $1.8 billion. This offering was underwritten by RBC Capital Markets and Scotiabank, with an additional over-allotment option of 2.84 million shares. The funds will primarily support the construction of the Southeast Gateway Pipeline, a $4.5 billion project in Mexico, while temporarily using proceeds for debt reduction or liquid investments.
TC Energy Corporation (TSX: TRP) has announced a bought deal agreement to issue 28.4 million common shares at $63.50 each, raising gross proceeds of approximately $1.8 billion. An over-allotment option allows for an additional 2.84 million shares, potentially increasing total proceeds to around $2 billion. The funds will support the construction of the Southeast Gateway Pipeline, a $4.5 billion project in Mexico. The offering is expected to close by August 10, 2022, pending necessary approvals.
TC Energy Corporation has formed a strategic alliance with Mexico's Comisión Federal de Electricidad (CFE) to enhance natural gas infrastructure, expected to benefit millions with cleaner energy. The partnership consolidates existing pipeline assets under a single U.S. dollar-denominated Transportation Service Agreement (TSA) extending until 2055. Key developments include a US$4.5 billion Southeast Gateway Pipeline project, likely to boost TC Energy's secured capital program to US$33 billion and positively impact its EBITDA growth outlook.
TC Energy Corporation (TRP) announced a quarterly dividend of $0.90 per common share for the quarter ending September 30, 2022. This dividend is payable on October 31, 2022 to shareholders of record as of September 30, 2022. Additionally, several quarterly dividends were declared for Cumulative First Preferred Shares, including Series 1 at $0.2174375 per share payable on September 29, 2022. The dividends are eligible under the Income Tax Act in Canada, providing tax benefits for Canadian residents.
TC Energy Corporation (TRP) reported strong second-quarter results, with net income at $0.9 billion or $0.90 per share, reflecting solid utilization across its asset base. The company highlighted high demand for natural gas and significant progress in its Coastal GasLink project, now 70% complete, expected to be operational by late 2023. Comparable EBITDA for 2022 is anticipated to be modestly higher than in 2021, with total capital expenditures projected at $8.5 billion due to increased costs. The company's dividend remains robust at $0.90 per share, with an annual growth target of 3-5%.
TC Energy Corporation (NYSE: TRP) will host a teleconference on July 28, 2022, at 9 a.m. MDT to discuss its second quarter financial results, which will be released pre-market. Key executives, including President François Poirier and CFO Joel Hunter, will present financial results and company developments. Interested parties can join the call by calling 1-800-319-4610. A live webcast will also be available on their website. A replay will be accessible until midnight EDT on August 4, 2022. TC Energy focuses on sustainable energy solutions, including natural gas and renewables.
TC Energy Corporation has appointed Cheryl Campbell as a new independent director of its Board, effective June 7, 2022. Campbell brings a wealth of experience in the midstream energy sector, having previously served as Senior Vice-President at Xcel Energy, where she led the gas business unit. She also contributed to the U.S. Department of Transportation’s Gas Pipeline Advisory Committee. The company is optimistic about her insights from her extensive background in sustainability and risk management.
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