TC Energy adjusts timing of certain Cumulative First Preferred Shares Dividends
TC Energy Corporation (TSX, NYSE: TRP) has announced a shift in the payment dates for its Cumulative First Preferred Shares due to the newly established Canadian federal holiday on September 30, 2021. The payment date is now set for September 29, 2021. Adjustments have also been made to the dividend amounts for Series 2 and Series 4, with Series 2 decreasing from $0.12785479 to $0.12646507 per share, and Series 4 from $0.08752603 to $0.08657466 per share. Shareholders of record on August 31, 2021 will receive dividends for the period ending September 29, 2021.
- Shareholders will receive dividends as scheduled, maintaining investor confidence.
- No changes to dividends for Cumulative First Preferred Shares Series 1 and Series 3, indicating stable income for those shareholders.
- Dividend reductions for Series 2 and Series 4 may concern investors about long-term financial health.
CALGARY, Alberta, Sept. 23, 2021 (GLOBE NEWSWIRE) -- News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) today announced the following adjustments to its previously announced timing for quarterly dividend payments on its outstanding Cumulative First Preferred Shares Series 1, Series 2, Series 3 and Series 4. These adjustments are the result of a newly created Canadian federal statutory holiday, the National Day for Truth and Reconciliation, to be recognized on Sept. 30, 2021.
- The payment date for the Cumulative First Preferred Shares Series 1, Series 2, Series 3 and Series 4 has been moved from Sept. 30, 2021 to Sept. 29, 2021, as Canadian banks are not open for payment processing on Sept. 30, 2021;
- As the last business day of September has changed from Sept. 30, 2021 to Sept. 29, 2021, pursuant to the terms of the applicable prospectus supplements, the period for the Cumulative First Preferred Shares Series 1, Series 2, Series 3 and Series 4 has been revised from “for the period up to but excluding Sept. 30, 2021” to “for the period up to but excluding Sept. 29, 2021”; and
- The dividend amounts for the Cumulative First Preferred Shares Series 2 and Series 4 have been adjusted to the following to reflect the above noted change in period:
- Series 2 (TSX: TRP.PR.F) – from
$0.12 785479 per share to$0.12 646507 per share - Series 4 (TSX: TRP.PR.H) – from
$0.08 752603 per share to$0.08 657466 per share
- Series 2 (TSX: TRP.PR.F) – from
There has been no change to the previously announced dividend amounts for the Cumulative First Preferred Shares Series 1 and Series 3.
Accordingly, shareholders of record at the close of business on Aug. 31, 2021 of the Company’s Cumulative First Preferred Shares Series 1, Series 2, Series 3 and Series 4 will receive their dividend payment for the period from and including June 30, 2021 up to but excluding Sept. 29, 2021 on Sept. 29, 2021.
The next dividend payment period for the Company’s Cumulative First Preferred Shares Series 1, Series 2, Series 3 and Series 4 will be for the period from and including Sept. 29, 2021 up to but excluding Dec. 31, 2021.
About TC Energy
We are a vital part of everyday life — delivering the energy millions of people rely on to power their lives in a sustainable way. Thanks to a safe, reliable network of natural gas and crude oil pipelines, along with power generation and storage facilities, wherever life happens — we’re there. Guided by our core values of safety, responsibility, collaboration, innovation and integrity, our 7,500 people make a positive difference in the communities where we operate across Canada, the U.S. and Mexico.
TC Energy’s common shares trade on the Toronto (TSX) and New York (NYSE) stock exchanges under the symbol TRP. To learn more, visit us at TCEnergy.com.
FORWARD-LOOKING INFORMATION
This release contains certain information that is forward-looking and is subject to important risks and uncertainties (such statements are usually accompanied by words such as "anticipate", "expect", "believe", "may", "will", "should", "estimate", "intend" or other similar words). Forward-looking statements in this document are intended to provide TC Energy security holders and potential investors with information regarding TC Energy and its subsidiaries, including management's assessment of TC Energy's and its subsidiaries' future plans and financial outlook. All forward-looking statements reflect TC Energy's beliefs and assumptions based on information available at the time the statements were made and as such are not guarantees of future performance. As actual results could vary significantly from the forward-looking information, you should not put undue reliance on forward-looking information and should not use future-oriented information or financial outlooks for anything other than their intended purpose. We do not update our forward-looking information due to new information or future events, unless we are required to by law. For additional information on the assumptions made, and the risks and uncertainties which could cause actual results to differ from the anticipated results, refer to the most recent Quarterly Report to Shareholders and Annual Report filed under TC Energy’s profile on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission at www.sec.gov.
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Media Inquiries:
Jaimie Harding / Suzanne Wilton
media@tcenergy.com
403-920-7859 or 800-608-7859
Investor & Analyst Inquiries:
David Moneta / Hunter Mau
investor_relations@tcenergy.com
403-920-7911 or 800-361-6522
PDF available: http://ml.globenewswire.com/Resource/Download/85e49a01-63ed-44f6-81d2-ece150a09d40
FAQ
What is the new dividend payment date for TRP's preferred shares?
What are the adjusted dividend amounts for TRP's Series 2 and Series 4 preferred shares?
What period do the dividends for TRP's preferred shares cover?
How often does TRP pay dividends for its preferred shares?
Is there any impact on regular shareholders due to the changes in preferred share dividends?
