Topic: How To Invest

Dividend Advisor Hotline – Friday, September 20, 2024

Article Excerpt

TC ENERGY INC., $62.65, Toronto symbol TRP, is a buy. TC generates steady cash flow for investors mainly through a 93,300-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 seven power plants. On October 1, 2024, the company will complete the spinoff of its oil pipeline business as separate company South Bow Corp. Investors will receive 0.2 of a South Bow share for every TC share they hold. The new shares will trade on the Toronto and New York exchanges under the “SOBO” symbol. Investors will not be liable for capital gains taxes until they sell their new shares. After the spinoff, the company, which will retain the TC Energy name and trading symbol, will focus on its gas pipelines and electrical power operations. In April 2024, TC raised your quarterly dividend by 3.2%, to $0.96 a share from $0.93. The new annual rate of $3.84 yields…