TransCanada PipeLines Limited reported an earnings coverage ratio of 2.3 times on its long-term debt and current liabilities for the twelve-month period ended March 31, 2026.
Over that period, the company’s interest obligations were approximately $3.376 billion, while earnings from continuing operations before interest expense and income taxes were approximately $7.903 billion, supporting this coverage level.
TC Energy reported strong first quarter 2026 results, with comparable EBITDA rising to $3.1 billion, up 14 per cent, and segmented earnings increasing 10 per cent versus first quarter 2025. Comparable earnings were $1.0 billion or $0.99 per share.
The company approved the US$1.5 billion Appalachia Supply Project on its Columbia Gas system, a low‑risk expansion backed by a 20‑year take‑or‑pay contract, designed to add up to 0.8 Bcf/d of capacity by 2030. U.S. natural gas pipeline flows grew 5 per cent to 32.6 Bcf/d, while LNG deliveries rose 12 per cent to 3.9 Bcf/d.
TC Energy reaffirmed its 2026 outlook, expecting comparable EBITDA of $11.6–$11.8 billion and net capital expenditures of $5.5–$6.0 billion. The Board declared a quarterly dividend of $0.8775 per common share, or $3.51 annualized.
TC Energy reported strong first quarter 2026 results, with comparable EBITDA rising to $3.1 billion, up 14 per cent, and segmented earnings increasing 10 per cent versus first quarter 2025. Comparable earnings were $1.0 billion or $0.99 per share.
The company approved the US$1.5 billion Appalachia Supply Project on its Columbia Gas system, a low‑risk expansion backed by a 20‑year take‑or‑pay contract, designed to add up to 0.8 Bcf/d of capacity by 2030. U.S. natural gas pipeline flows grew 5 per cent to 32.6 Bcf/d, while LNG deliveries rose 12 per cent to 3.9 Bcf/d.
TC Energy reaffirmed its 2026 outlook, expecting comparable EBITDA of $11.6–$11.8 billion and net capital expenditures of $5.5–$6.0 billion. The Board declared a quarterly dividend of $0.8775 per common share, or $3.51 annualized.
TransCanada PipeLines Limited has entered an underwriting agreement to issue an aggregate US$1.0 billion of junior subordinated notes due 2056 under its Form F-10 shelf.
The company will sell US$500 million of 6.125% Fixed-to-Fixed Rate Junior Subordinated Notes due 2056 and US$500 million of 6.375% Fixed-to-Fixed Rate Junior Subordinated Notes due 2056, both priced at 100% of principal with a 1.000% underwriting commission.
The 6.125% Series 2026-A tranche pays 6.125% to October 17, 2031, then resets every five years to the Five-Year Treasury Rate plus 2.250%, with a floor at 6.125%. Interest is deferrable, at the company’s option, for up to ten consecutive years, and the notes include optional redemption features and tax- and rating-event redemption rights.
TC Energy Corporation has filed a Form 6-K furnishing its 2026 Management Information Circular and notice of a virtual-only annual meeting of common shareholders on May 7, 2026 at 10 a.m. MDT. Shareholders of record on March 20, 2026 can vote on electing 13 directors, appointing KPMG as auditor, and an advisory say-on-pay resolution.
The circular outlines detailed instructions for online participation and proxy voting, describes strong governance practices with 92% independent directors and 38% gender diversity, and explains TC Energy’s pay-for-performance compensation philosophy, auditor independence framework, and sustainability and ESG oversight, including climate and Indigenous relations initiatives.
TransCanada PipeLines Limited reports supplemental earnings coverage information for the twelve-month period ended December 31, 2025. The company’s earnings coverage on long-term debt and current liabilities was 2.4 times, based on net income prepared under U.S. GAAP.
For this period, the Corporation’s interest obligations totaled approximately $3.386 billion. Earnings from continuing operations before interest expense and income taxes were approximately $8.032 billion, which is 2.4 times the Corporation’s interest requirements for the year.
TC Energy Corporation and its wholly owned subsidiary TransCanada PipeLines Limited filed their 2025 annual report on Form 40-F, using TC Energy’s Canadian continuous disclosure documents by exemption. Common shares of TC Energy Corporation outstanding at December 31, 2025 were 1,040,835,168, alongside multiple series of preferred shares.
At December 31, 2025, TransCanada PipeLines Limited had 992,720,977 common shares outstanding, all owned by TC Energy. The companies report having no off-balance sheet arrangements other than specified guarantees and commitments, maintain a Code of Business Ethics with only non-material 2025 changes and no waivers, and identify Una Power as an independent audit committee financial expert, with KPMG LLP serving as independent auditor.