TC Energy to highlight sustainable long-term growth at virtual Investor Day
December 01 2021 - 7:15AM
News Release -- TC Energy Corporation (TSX, NYSE: TRP) (TC Energy)
will host its annual Investor Day in a virtual format today. During
the event we will provide an overview of our corporate strategy,
five-year financial outlook and the targets we have set to support
our ten sustainability commitments. In addition, we will outline
the vast opportunity set that lies ahead for our natural gas
pipelines, liquids pipelines and power and storage businesses in
Canada, the United States and Mexico.
“Our vision is to be the premier energy infrastructure company
in North America, now and in the future,” said François Poirier, TC
Energy’s President and Chief Executive Officer. “Our $100 billion
portfolio of high-quality, long-life energy infrastructure assets
is performing very well as evidenced by the record financial
results we are on course to deliver in 2021. We also have
visibility to significant future growth as a result of both the
world’s growing demand for energy and the transition to a cleaner
energy future. Today, we are advancing $29 billion of commercially
secured projects that will expand and extend our asset footprint
across North America and generate attractive long-term returns for
our shareholders as they enter service over the next five
years.”
TC Energy’s $29 billion of secured capital projects is
underpinned by strong industry fundamentals as well as
cost-of-service regulation and/or long-term, take-or-pay contracts.
This includes $7 billion in new projects that will have been
sanctioned by the end of 2021. This capital program, combined with
the strong performance of our existing assets, is expected to
result in average annual growth in EBITDA of five per cent through
2026. Additional sanctioned projects that enter service by 2026,
along with other revenue enhancements and cost savings, would add
to our growth outlook. Based on the confidence we have in our
business plans we expect to grow the common share dividend at an
annual rate of three to five per cent. This is consistent with our
established conservative approach to capital allocation and is
expected to provide the capacity to fund our sizable capital
program while enhancing our financial strength and flexibility.
“Our strong and growing cash flow from operations will allow us
to largely fund our $29 billion secured capital program and pay a
sustainable dividend,” added Poirier. “As a result, we expect to
improve our already solid credit profile and exceed targeted credit
metrics in the latter part of our five-year plan. This will provide
us with the capacity to fund additional growth opportunities,
continue our long history of dividend increases or consider a share
buyback. As always, we will allocate capital in a manner that
maximizes growth in earnings, cash flow and dividends per share and
delivers superior long-term returns to our shareholders.”
Looking forward, TC Energy expects to capture substantial new
opportunities that would add to its EBITDA growth outlook. Our
network of critical energy infrastructure will be used for decades
to come and continue to generate significant in-corridor growth
potential. We also remain committed to the sustainable development
of our business. Modernizing our existing systems and assets along
with the decarbonization of our own energy consumption are some of
the areas we are focused on while also seeking opportunities to
invest in low-carbon energy infrastructure. We are advancing
numerous renewable energy projects and proceeding with new ventures
in pumped hydro storage, hydrogen and carbon capture utilization
and storage, while remaining committed to important projects like
Bruce Power’s multi-billion dollar life extension and uprate
programs which will continue to be a source of significant
emission-less power in Ontario for decades to come.
In all our operations and projects, we remain focused on
managing and reducing our GHG emissions and building constructive,
enduring relationships with our communities and stakeholders. We
believe our creativity, technical strength and unparalleled market
connectivity provide us the ability to prosper regardless of the
pace and direction of energy transition.
The event is scheduled from 7:30 a.m. to 11:30 a.m. MST (9:30
a.m. to 1:30 p.m. EST). A live webcast of the event will be
available through the Investors section of TC Energy’s website at
TCEnergy.com/InvestorDay or via the following URL:
https://tcenergyinvestorday2021.can.chime.live/. The webcast will
also be posted on-line for replay following the event.
The presentation materials will be available at
TCEnergy.com/InvestorDay at 6:00 a.m. MST (8:00 a.m. EST).
About TC EnergyWe 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 liquids pipelines, along with power
generation and storage facilities, wherever life happens — we’re
there. Guided by our core values of safety, innovation,
responsibility, collaboration and integrity, our 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 / Suzanne Wilton
media@tcenergy.com 403-920-7859 or 800-608-7859
Investor & Analyst Inquiries:David Moneta /
Hunter Mauinvestor_relations@tcenergy.com403-920-7911 or
800-361-6522
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