TC is raising your income

Article Excerpt

TC ENERGY INC., $73.25, is a buy. The company (Toronto symbol TRP; Shares o/s: 939.0 million; Market cap: $68.8 billion; TSINetwork Rating: Above Average; Dividend yield: 4.4%; www.transcanada.com) generates steady cash flow for investors mainly through its 92,600-kilometre pipeline network; it pumps natural gas from Alberta to eastern Canada and the U.S. TC’s other operations include 4,900 kilometres of crude oil pipelines and 10 power plants. Thanks to those high-quality assets, the company will raise your quarterly dividend by 8.0%. Starting with the April 2020 payment, investors will receive $0.81 a share instead of $0.75. The new annual rate of $3.24 yields an impressive 4.6%. As well, TC has now increased the dividend each year for the past 20 years. The company’s investors have enjoyed a 22% gain in the past year. Despite that jump, your shares trade at an attractive 17.5 times the 2020 forecast earnings of $4.19 a share. share…

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