TC Energy to highlight sustainable long-term growth at virtual Investor Day
CALGARY, Alberta, Nov. 17, 2020 (GLOBE NEWSWIRE) -- 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.