TC Energy Corporation (TRP) to Issue Quarterly Dividend of C$0.88 on April 30th

TC Energy Corporation (NYSE:TRP) (TSE:TRP) announced a quarterly dividend on Friday, February 13th. Investors of record on Tuesday, March 31st will be given a dividend of 0.8775 per share by the pipeline company on Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Tuesday, March 31st. This is a 3.2% increase from TC Energy’s previous quarterly dividend of $0.85.

TC Energy has decreased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. TC Energy has a payout ratio of 90.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect TC Energy to earn $2.81 per share next year, which means the company should continue to be able to cover its $2.57 annual dividend with an expected future payout ratio of 91.5%.

TC Energy Stock Down 0.3%

Shares of TC Energy stock opened at $63.46 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.63 and a quick ratio of 0.56. TC Energy has a 1 year low of $43.59 and a 1 year high of $65.57. The firm’s 50-day moving average is $61.48 and its two-hundred day moving average is $56.25. The stock has a market cap of $66.07 billion, a price-to-earnings ratio of 27.31 and a beta of 0.72.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the previous year, the business posted $1.05 EPS. As a group, research analysts expect that TC Energy will post 2.63 earnings per share for the current fiscal year.

About TC Energy

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long?distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.