TC Energy expects record financial results with portfolio of US $ 100 billion

TC Energy announced Tuesday that it expects record financial results in 2020 and highlighted its $ 100 billion portfolio of energy infrastructure assets.

«Despite the challenges brought about by Covid-19, our $ 100 billion portfolio of high-quality, long-life energy infrastructure assets remains resilient, as evidenced by near-record financial results expected again in 2020,» said Russ Girling, president of TC Energy.

TC Energy has a network of natural gas and crude oil pipelines, and energy generation and storage facilities, and has a workforce of 7,500 people in Canada, the United States and Mexico.

“Going forward, we continue to advance $ 37 billion commercially insured projects that will expand and extend our asset footprint in North America. In particular, these projects are supported by the regulation of the cost of the service and/or long-term contracts, ‘take or pay’.

“Our guaranteed capital program, along with a strong portfolio of other projects in development, is expected to drive future earnings growth and cash flow per share. Based on the confidence we have in our business plan, we reaffirm that we expect to increase our common stock dividend at an annual rate of 8-10% in 2021 and 5-7% thereafter,» added Girling.

TC Energy

On October 29, 2020, the company announced that its Board of Directors declared a quarterly dividend of $ 0.81 per common share for the quarter ending December 31, 2020.

The quarterly amount is equivalent to $ 3.24 per common share on an annualized basis and represents 8% of the amount declared in 2019.