TC Energy declares quarterly dividends

Rhea-AI Summary

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.

Positive

• Quarterly dividend of $0.93 per common share boosts shareholder income.
• Dividend payments enhance company confidence and investment attractiveness.
• Cumulative First Preferred Shares dividends ranging from $0.105875 to $0.3772760.

Negative

• None.

CALGARY, Alberta, Feb. 14, 2023 (GLOBE NEWSWIRE) -- News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) today announced that its Board of Directors (Board) declared a quarterly dividend of $0.93 per common share for the quarter ending March 31, 2023, on the Company’s outstanding common shares. The common share dividend is payable on April 28, 2023, to shareholders of record at the close of business on March 31, 2023.

The Board also declared quarterly dividends on the outstanding Cumulative First Preferred Shares as follows:

• For the period up to but excluding March 31, 2023, payable on March 31, 2023, to shareholders of record at the close of business on Feb. 28, 2023:
  • Series 1 (TRP.PR.A) - $0.2174375 per share
  • Series 2 (TRP.PR.F) - $0.3772760 per share
  • Series 3 (TRP.PR.B) - $0.105875 per share
  • Series 4 (TRP.PR.H) - $0.3373856 per share
    
    
• For the period up to but excluding April 30, 2023, payable on May 1, 2023, to shareholders of record at the close of business on March 31, 2023:
  • Series 5 (TRP.PR.C) - $0.1218125 per share
  • Series 6 (TRP.PR.I) - $0.3601849 per share
  • Series 7 (TRP.PR.D) - $0.243938 per share
  • Series 9 (TRP.PR.E) - $0.235125 per share

These dividends are designated by TC Energy to be eligible dividends for purposes of the Income Tax Act (Canada) and any similar provincial or territorial legislation. An enhanced dividend tax credit applies to eligible dividends paid to Canadian residents.

The Board also approved the issuance of common shares from treasury at a two per cent discount under TC Energy’s Dividend Reinvestment Plan (DRP). Under the DRP, investors holding TC Energy common or preferred shares can receive common shares instead of cash dividend payments. For further details, including how to enroll in the program, please refer to https://www.tcenergy.com/investors/dividends/.

About TC Energy
We’re a team of 7,000+ energy problem solvers working to move, generate and store the energy North America relies on. Today, we’re taking action to make that energy more sustainable and more secure. We’re innovating and modernizing to reduce emissions from our business. And, we’re delivering new energy solutions – from natural gas and renewables to carbon capture and hydrogen – to help other businesses and industries decarbonize too. Along the way, we invest in communities and partner with our neighbours, customers and governments to build the energy system of the future.

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.

Media Inquiries:
Stone Grissom / Suzanne Wilton
media@tcenergy.com
403-920-7859 or 800-608-7859

Investor & Analyst Inquiries:
Gavin Wylie / Hunter Mau
investor_relations@tcenergy.com
403-920-7911 or 800-361-6522

PDF available: http://ml.globenewswire.com/Resource/Download/8e839bdf-f085-4ebf-b756-adc42855fd9c

FAQ

What is the dividend amount declared by TC Energy (TRP) for March 2023?

TC Energy (TRP) declared a dividend of $0.93 per common share for March 2023.

When will the TC Energy dividend be paid?

The dividend will be paid on April 28, 2023.

Who qualifies for the TC Energy dividend payment?

Shareholders of record by March 31, 2023, qualify for the dividend payment.

What is the tax treatment of TC Energy dividends for Canadian residents?

Dividends are designated as eligible dividends under the Income Tax Act, providing enhanced tax credits.

What are the preferred share dividends declared by TC Energy?

Preferred share dividends range from $0.105875 to $0.3772760, payable on various dates in 2023.