TC Energy is one of North America’s biggest pipeline companies. It owns or has interests in seven power generation facilities, including the Bruce nuclear facility in Ontario.
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Income Investor
In October, the company completed the spinoff of its oil pipeline assets. Stockholders received one share of the new South Bow Corp. (TSX: SOBO) for every five shares of TC Energy they owned. So, for every 100 shares of TRP in your portfolio, you now also own 20 shares of SOBO. The stock closed on Jan. 24 at $34.94. After the spinoff, TRP lowered its dividend to $0.8225 per quarter ($3.29 annually). The stock yields 5.0% at the current price. Investors who held on to their SOBO shares, which we advised doing, receive a quarterly dividend of US$0.50 a share, for a yield of 8.2%.
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TRP was first recommended here on July 24, 2003