Tc Energy Corporation Stock Price, News & Analysis

TC Energy Corporation (NYSE: TRP) announced a teleconference set for July 29, 2021, at 9 a.m. MDT to discuss its second quarter financial results, which will be released before the market opens. The leadership team, including President François Poirier and CFO Don Marchand, will provide insights on company developments. Interested parties can join by calling 1-800-319-4610 or via a live webcast on TC Energy's website. A replay will be available after the call until August 5, 2021.

TC Energy (NYSE: TRP) has filed a Notice of Intent to initiate a NAFTA claim to recover over US$15 billion in damages due to the U.S. Government's revocation of the Keystone XL Project’s Presidential Permit. The claim is based on what TC Energy identifies as a breach of NAFTA obligations. This filing was made with the U.S. Department of State, highlighting the company's effort to seek compensation for economic damages resulting from this decision.

Pembina Pipeline and TC Energy have announced a collaboration to develop the Alberta Carbon Grid (ACG), a carbon transportation and sequestration system aiming to transport over 20 million tonnes of CO2 annually. This project utilizes existing pipeline infrastructure to connect major industrial emitters with sequestration hubs, supporting Alberta's goal of reducing greenhouse gas emissions by 40-45% by 2030. The ACG, with a target operational phase by 2025, aims to create job opportunities and enhance economic growth while positioning the companies as leaders in the carbon capture utilization and storage industry.

On June 14, 2021, TC Energy Corporation appointed William D. Johnson as an independent director. Johnson brings extensive experience from his past leadership roles at PG&E Corporation, Tennessee Valley Authority, and Progress Energy. His expertise in the energy sector is expected to provide valuable insights and strengthen TC Energy's Board of Directors. The company, known for its natural gas and crude oil pipeline network, continues to focus on delivering sustainable energy solutions across North America.

TC Energy has terminated the Keystone XL Pipeline Project after a comprehensive review and consultations with the Government of Alberta. Construction was already suspended following the revocation of its Presidential Permit in January 2021. The company aims to ensure a safe exit from the Project while continuing to meet environmental and regulatory commitments. TC Energy remains optimistic about future growth opportunities, with $20 billion in secured projects and $7 billion under development to support energy transition efforts.

TC Energy Corporation has announced the retirement of Don Marchand as Chief Financial Officer (CFO), effective November 1, 2021. He will step down as CFO on July 31, 2021. Joel Hunter, currently Senior Vice-President of Capital Markets, will succeed him. Hunter has been with TC Energy for 24 years and is part of the Executive Leadership Team since January 2021. Bevin Wirzba will assume leadership of Strategy and Corporate Development activities effective June 1, 2021. The company emphasizes a strong commitment to its financial management and future growth.

On May 7, 2021, TC Energy held its annual meeting, where all 13 director nominees were elected. Notable votes included Stéphan Crétier receiving 99.56% support and Michael R. Culbert with 99.81%. Mary Pat Salomone garnered the lowest approval at 93.64%. The final voting results will be filed on SEDAR and EDGAR by May 11, 2021. TC Energy operates a reliable network of pipelines and power generation facilities across North America, trading under the symbol TRP on the TSX and NYSE.

TC Energy Corporation (TRP) announced a quarterly dividend of $0.87 per common share for the quarter ending June 30, 2021, payable on July 30, 2021. Shareholders of record by June 30, 2021, are eligible. Additionally, the company declared dividends for its Cumulative First Preferred Shares, with varying amounts payable on June 30 and July 30, 2021. Notably, the Series 13 Preferred Shares will be redeemed on May 31, 2021, marking the final dividend for those shares. All dividends are eligible dividends under Canadian tax legislation.

TC Energy Corporation (TRP) reported a net loss of $1.1 billion or $1.11 per share for Q1 2021, a significant drop from a net income of $1.1 billion or $1.22 per share in Q1 2020. The loss included a $2.2 billion after-tax impairment charge from the Keystone XL suspension. Comparable earnings were stable at $1.1 billion or $1.16 per share. The company announced a quarterly dividend of $0.87 per share and is advancing a $20 billion secured capital program, emphasizing resilience amidst market uncertainties.