Topic: How To Invest

Dividend Advisor Hotline – Friday, August 7, 2020

Article Excerpt

TC ENERGY INC., $64.15, Toronto symbol TRP, is still a buy. TC generates steady cash flow for investors mainly through a 92,600-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 10 power plants. With the April 2020 payment, TC raised your quarterly dividend by 8.0%. Investors now receive $0.81 a share instead of $0.75. The new annual rate of $3.24 yields a high 5.1%. What’s more, the company plans to raise the annual rate by 8% to 10% in 2021, and by 5% to 7% for 2022 and subsequent years. TC has received approval from the U.S. government to increase shipments on its Keystone pipeline to 760,000 barrels a day from the 590,000 allowed under a previous permit. That line pumps crude oil from Alberta’s oil sands to refineries on the U.S. Gulf Coast. The extra capacity helps offset the impact of ongoing legal and environmental challenges…

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