TC Energy Corporation (NYSE:TRP) Plans Quarterly Dividend of C$0.88

TC Energy Corporation (NYSE:TRP) (TSE:TRP) declared a quarterly dividend on Thursday, November 5th. Investors of record on Thursday, December 31st will be paid a dividend of C$0.88 per share by the pipeline company on Friday, January 29th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend is Thursday, December 31st.

TC Energy has decreased its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. TC Energy has a payout ratio of 88.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect TC Energy to earn $2.91 per share next year, which means the company should continue to be able to cover its $2.53 annual dividend with an expected future payout ratio of 86.9%.

TC Energy Price Performance

Shares of NYSE TRP traded down $0.05 during trading hours on Thursday, reaching $62.56. 3,455,086 shares of the stock traded hands, compared to its average volume of 2,559,709. The company’s 50-day simple moving average is $61.35 and its two-hundred day simple moving average is $63.76. The company has a market capitalization of $62.56 billion, a P/E ratio of 25.96 and a beta of 0.64. TC Energy has a 52-week low of $49.64 and a 52-week high of $71.47. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, November 5th. The pipeline company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.03. TC Energy had a return on equity of 11.10% and a net margin of 22.91%. During the same period last year, the company earned $0.77 earnings per share. Equities research analysts forecast that TC Energy will post 2.79 EPS for the current year.

TC Energy Company Profile

TC Energy Corporation (NYSE: TRP) is a North American energy infrastructure company that develops and operates natural gas pipelines, storage facilities, power-generation assets and related energy infrastructure. Its natural gas pipeline network connects major supply basins with utilities, power producers, industrial customers and local distribution companies.

The company’s operations are primarily located in Canada and the United States, with additional natural gas pipeline interests in Mexico.