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.
On April 29, 2022, TC Energy Corporation (NYSE: TRP) announced the election of 12 directors at its annual meeting. Notable outcomes include a strong majority of votes in favor for most nominees, with Michael R. Culbert receiving 99.64% support. Final voting results will be available on SEDAR and EDGAR by May 3, 2022. The company emphasizes its commitment to sustainable energy solutions, including natural gas and renewables. TC Energy is focused on innovative approaches to reduce emissions and assist other industries in their decarbonization efforts.
TC Energy has declared a quarterly dividend of $0.90 per common share for the quarter ending June 30, 2022, payable on July 29, 2022. The dividend is for shareholders of record on June 30, 2022. Additionally, the company announced dividends for its Cumulative First Preferred Shares, with various amounts payable between May 31 and August 2, 2022. The Series 15 preferred shares will be redeemed on May 31, 2022. All dividends are eligible under the Income Tax Act in Canada, providing an enhanced tax credit for Canadian residents.
TC Energy (TRP) reported its Q1 2022 results, showing net income of $0.4 billion, or $0.36 per common share, a stark contrast to a net loss of $1.1 billion in Q1 2021. Comparable earnings were $1.1 billion, maintaining 2021 levels. The company declared a quarterly dividend of $0.90 per share and expects 2022 EBITDA to be modestly higher than in 2021. Strong demand for energy infrastructure was highlighted, with the NGTL System experiencing record winter demand. The company is poised to sanction over $5 billion in new projects annually, backed by strategic partnerships.
TC Energy Corporation (TSX, NYSE: TRP) plans to establish a hydrogen production hub on 140 acres in Crossfield, Alberta, in collaboration with Nikola Corporation. The project aims to produce 60 tonnes of hydrogen daily, expandable to 150 tonnes, utilizing natural gas and CO2 capture technology for emissions reduction. A final investment decision is anticipated by the end of 2023, subject to regulatory approvals. This initiative emphasizes TC Energy's commitment to low-carbon energy solutions for various sectors, including transportation and industrial heating.
TC Energy and GreenGasUSA announced a strategic collaboration to develop natural gas transportation hubs, including renewable natural gas (RNG). GreenGasUSA will generate RNG from organic matter and deliver it to TC Energy's hubs, which will be built and operated by TC Energy. This partnership aims to reduce greenhouse gas emissions, increase participation in renewable energy markets, and provide innovative energy solutions. The first hub is expected to be operational by Q2 2023, contributing to energy resilience and methane capture across TC Energy’s extensive pipeline system.
TC Energy Corporation will hold its 2022 annual meeting on April 29, 2022, at 10 a.m. MDT/12 p.m. EDT, using virtual technology. The meeting will feature a live webcast and a replay option. The company's first-quarter financial results will be released before the meeting, followed by a conference call at 1 p.m. MDT/3 p.m. EDT where executives will discuss financial outcomes and company updates. Investors can join the call at 1-800-319-4610. The release emphasizes TC Energy's commitment to delivering energy sustainably across North America.
TC Energy Corporation (NYSE: TRP) has launched an open season for binding commitments for crude oil transportation on the Marketlink Pipeline System. This system connects Cushing, OK, to major destinations in Port Arthur and Houston, TX. The open season aims to meet customer demand for reliable domestic supply to the U.S. refining market. Interested customers can access details upon signing a confidentiality agreement. Bids are required by 12 p.m. MDT on May 9, 2022.
TC Energy Corporation (TSX, NYSE: TRP) announced the redemption of its Cumulative Redeemable Minimum Rate Reset First Preferred Shares, Series 15 on May 31, 2022, at a price of $25.00 per share. The Company plans to declare a final quarterly dividend of $0.30625 per Series 15 Share, payable on the same date to shareholders of record on May 17, 2022. After the redemption, the Series 15 Shares will no longer be entitled to dividends and will be delisted from the Toronto Stock Exchange.
TC Energy Corporation (TRP) has signed option agreements to sell a 10% equity interest in the Coastal GasLink Pipeline to Indigenous communities. This partnership allows 16 communities, via two newly formed entities, to become equity owners in a major natural resource project. The agreements stem from Indigenous interest in ownership opportunities and are in addition to existing contracts providing employment and other benefits. The equity option is available post-commercial service of the pipeline, pending regulatory approvals.
On March 7, 2022, TC Energy Corporation (TRP) announced the closing of an $800 million offering of 5.600% subordinated Trust Notes, Series 2022-A. These notes, guaranteed on a subordinated basis by TransCanada PipeLines Limited, will mature on March 7, 2082. Proceeds from the offering are designated for redeeming existing Cumulative Redeemable Minimum Rate Reset First Preferred Shares and reducing short-term debt. The notes were underwritten by Deutsche Bank and MUFG Securities. This move is part of TC Energy's strategic financial management.
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