CALGARY — TC Energy Corp. says it expects its dividend to grow at an annual rate of eight to 10 per cent through 2021, but then growth in its regular payments to shareholders is expected to slow.
The pipeline company says that beyond 2021 it expects its dividend to grow at an average annual rate of five to seven per cent.
The company formerly known as TransCanada Corp. made the comments ahead of its annual investor day.
It noted that the slower pace is consistent with the average annual increases in its dividend since 2000 and is based on its outlook for future organic growth.
TC Energy noted the rate of growth could be boosted by strategic acquisitions, or what it called transformational opportunities.
The company has declared a quarterly dividend of 75 cents per share for the quarter ending Dec. 31 for an annual yield of about 4.4 per cent.
This report by The Canadian Press was first published Nov. 19, 2019.
Companies in this story: (TSX:TRP)
The Canadian Press