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     136  0 Kommentare TC Energy provides conversion right and dividend rate notice for Series 5 and 6 preferred shares

    CALGARY, Alberta, Dec. 31, 2020 (GLOBE NEWSWIRE) -- News Release – TC Energy Corporation (TSX:TRP) (NYSE:TRP) (TC Energy) announced today that it does not intend to exercise its right to redeem its Cumulative Redeemable First Preferred Shares, Series 5 (Series 5 Shares) and Cumulative Redeemable First Preferred Shares, Series 6 (Series 6 Shares) on January 30, 2021. As a result, subject to certain conditions:

    (a)   the holders of Series 5 Shares have the right to choose one of the following options with regard to their shares:

    1. to retain any or all of their Series 5 Shares and continue to receive a fixed rate quarterly dividend; or

    2. to convert, on a one-for-one basis, any or all of their Series 5 Shares into Series 6 Shares and receive a floating rate quarterly dividend, and

    (b)   the holders of Series 6 Shares have the right to choose one of the following options with regard to their shares:

    1. to retain any or all of their Series 6 Shares and continue to receive a floating rate quarterly dividend; or

    2. to convert, on a one-for-one basis, any or all of their Series 6 Shares into Series 5 Shares and receive fixed rate quarterly dividend.

    Should a holder of Series 5 Shares choose to retain their shares, such shareholders will receive the new annual fixed dividend rate applicable to Series 5 Shares of 1.949% for the five-year period commencing January 30, 2021 to, but excluding, January 30, 2026. Should a holder of Series 5 Shares choose to convert their shares to Series 6 Shares, holders of Series 6 Shares will receive the floating quarterly dividend rate applicable to the Series 6 Shares of 1.655% for the three-month period commencing January 30, 2021 to, but excluding, April 30, 2021. The floating dividend rate will be reset every quarter.

    Should a holder of Series 6 Shares choose to retain their shares, such shareholders will receive the floating quarterly dividend rate applicable to Series 6 Shares of 1.655% for the three-month period commencing January 30, 2021 to, but excluding, April 30, 2021. The floating dividend rate will be reset every quarter. Should a holder of Series 6 Shares choose to convert their shares to Series 5 Shares, holders of Series 5 Shares will receive the new fixed quarterly dividend rate applicable to the Series 5 Shares of 1.949% for the five-year period commencing January 30, 2021 to, but excluding, January 30, 2026.

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    TC Energy provides conversion right and dividend rate notice for Series 5 and 6 preferred shares CALGARY, Alberta, Dec. 31, 2020 (GLOBE NEWSWIRE) - News Release – TC Energy Corporation (TSX:TRP) (NYSE:TRP) (TC Energy) announced today that it does not intend to exercise its right to redeem its Cumulative Redeemable First Preferred Shares, …