Topic: How To Invest

Dividend Advisor Hotline – Friday, May 10, 2024

Article Excerpt

TC ENERGY INC., $52.78, Toronto symbol TRP, is a buy. TC generates steady cash flow for investors mainly through a 93,600-kilometre pipeline network that pumps natural gas from Alberta to eastern Canada and the U.S. Its other operations include 4,900 kilometres of crude oil pipelines and nine power plants. With the April 2024 payment, TC raised your quarterly dividend by 3.2%. Investors now receive $0.96 a share instead of $0.93. The new annual rate of $3.84 yields a high 7.3%. Due to the launch of new projects and higher volumes on its gas pipelines, TC’s revenue in the quarter ended March 31, 2024, rose 8.0%, to $4.24 billion from $3.93 billion a year earlier. That beat the consensus forecast of $4.07 billion. The higher revenue also helped lift earnings before unusual items by 4.1%, to $1.28 billion from $1.23 billion. Earnings per share rose at a slower rate of 2.5%, to $1.24 from $1.21, on more shares outstanding. That also topped the consensus estimate…