TC Energy to highlight sustainable long-term growth at virtual Investor Day
November 17 2020 - 7:30AM
News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or
the Company) will host its annual Investor Day in a virtual format
today. The Company will provide a financial update and review
strategic plans for its natural gas pipelines, liquids pipelines
and power and storage businesses in Canada, the United States and
Mexico.
“Despite the challenges brought about by COVID-19, our $100
billion portfolio of high-quality, long-life energy infrastructure
assets remain resilient as evidenced by near record financial
results expected again in 2020,” said Russ Girling, TC Energy’s
president and chief executive officer. “Looking forward, we
continue to advance $37 billion of commercially secured projects
that will expand and extend our asset footprint across North
America. Notably, these projets are underpinned by cost of service
regulation and/or long-term, take-or-pay contracts.”
“Our secured capital program, along with a robust portfolio of
other projects under development, is expected to drive future
growth in earnings and cash flow per share. Based on the confidence
we have in our business plan, we are reaffirming that we expect to
grow our common share dividend at an annual rate of eight to 10 per
cent in 2021 and five to seven per cent thereafter,” added Girling.
“Our dividend outlook is in line with our historical approach to
capital allocation and consistent with average annual increases in
the dividend since 2000.”
Looking forward, TC Energy is well positioned to capture
significant additional growth opportunities that are expected to
arise as the world both consumes more energy and transitions to a
less carbon intensive energy mix. Our network of critical energy
infrastructure will be used extensively for decades to come and
continue to generate significant in-corridor growth potential. As
the world transitions to a low-carbon future, new prospects are
expected to emerge. With a deep understanding of energy markets,
strong stakeholder relationships, significant financial capacity,
and extensive technical expertise across a broad range of energy
sources including natural gas, crude oil, nuclear, hydro, wind,
solar and other emerging technologies, we expect to continue to
grow our portfolio in a manner that aligns with our risk
preferences, return expectations and organizational
capabilities.
On October 29, 2020, TC Energy 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
equates to $3.24 per common share on an annualized basis and
represents an eight per cent increase over the amount declared in
2019. TC Energy’s Board of Directors has increased the common share
dividend in each of the last twenty years, from $0.80 per common
share in 2000 to $3.24 per common share in 2020, resulting in an
average annual increase of seven per cent. The current common share
dividend equates to a dividend yield of approximately 5.75 per cent
based on the closing price of TC Energy’s common shares on the
Toronto Stock Exchange on November 16, 2020.
“With significant internally generated cash flow and continued
access to capital markets on compelling terms, we are well
positioned to prudently fund our $37 billion secured capital
program in a manner that is consistent with maintaining our strong
credit profile and targeted credit metrics,” concluded Girling.
Today’s virtual event is scheduled from 7:30 a.m. to 11:00 a.m.
MST (9:30 a.m. to 1:00 p.m. EST). Interested parties may view the
webcast live from TC Energy’s website at TCEnergy.com/InvestorDay
or directly at https://webcast.fmav.ca/tcenergy2020/. The webcast
will also be posted online for replay following the event.
For anyone wishing to listen by phone, the event will also be
accessible by conference call at 1-800-898-3989 (toll free) or
1-416-695-7850 (direct), using passcode 6772091#.
The presentation materials will be available at
TCEnergy.com/InvestorDay at 6:00 a.m. MST (8 a.m. EST).
About TC Energy We are a vital part of everyday
life — delivering the energy millions of people rely on to power
their lives in a sustainable way. Thanks to a safe, reliable
network of natural gas and crude oil pipelines, along with power
generation and storage facilities, wherever life happens — we’re
there. Guided by our core values of safety, responsibility,
collaboration and integrity, our more than 7,500 people make a
positive difference in the communities where we operate across
Canada, the U.S. and Mexico.
TC Energy’s common shares trade on the Toronto (TSX) and New
York (NYSE) stock exchanges under the symbol TRP. To learn more,
visit us at TCEnergy.com.
FORWARD-LOOKING INFORMATIONThis release
contains certain information that is forward-looking and is subject
to important risks and uncertainties (such statements are usually
accompanied by words such as "anticipate", "expect", "believe",
"may", "will", "should", "estimate", "intend" or other similar
words). Forward-looking statements in this document are intended to
provide TC Energy security holders and potential investors with
information regarding TC Energy and its subsidiaries, including
management's assessment of TC Energy's and its subsidiaries' future
plans and financial outlook. All forward-looking statements reflect
TC Energy's beliefs and assumptions based on information available
at the time the statements were made and as such are not guarantees
of future performance. As actual results could vary significantly
from the forward-looking information, you should not put undue
reliance on forward-looking information and should not use
future-oriented information or financial outlooks for anything
other than their intended purpose. We do not update our
forward-looking information due to new information or future
events, unless we are required to by law. For additional
information on the assumptions made, and the risks and
uncertainties which could cause actual results to differ from the
anticipated results, refer to the most recent Quarterly Report to
Shareholders and Annual Report filed under TC Energy’s profile on
SEDAR at www.sedar.com and with the U.S. Securities and Exchange
Commission at www.sec.gov.
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Media Inquiries:Jaimie Harding / Hejdi Carlsen
403-920-7859 or 800-608-7859
Investor & Analyst Inquiries:David Moneta /
Hunter Mau403-920-7911 or 800-361-6522
PDF
available: http://ml.globenewswire.com/Resource/Download/acddf335-8d25-4dc9-a621-f245d9c0a9ad
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