Stock information

How will TC Energy approach the LIBOR and CDOR transition with respect to its junior subordinated notes?

We recognize that the reference rate fallback language in some of our junior subordinated notes may not be aligned with current market standards to address the cessation of US dollar LIBOR and Canadian dollar CDOR. While the intention of this language is to provide greater clarity to stakeholders around LIBOR and CDOR cessation, this does not signify a change in terms of our approach towards redemption decisions on our outstanding securities. Redemption decisions will continue to be dependent upon a multitude of factors, including, but not limited to, economics and equity credit.

TransCanada PipeLines Limited 6.350% Junior Subordinated Notes due 2067 (“2067 Junior Subordinated Notes”)

Our 2067 Junior Subordinated Notes are issued pursuant to an Indenture which is governed by New York law. Pursuant to the U.S. Adjustable Interest Rate (LIBOR) Act of 2021 (LIBOR Act), the reference rate for such notes will automatically convert from three-month LIBOR to three-month CME Term SOFR plus a spread adjustment of 26.161 bps for all quarterly rate resets post-LIBOR cessation.

TransCanada Trust Unsecured Subordinated Trust Notes Series 2015-A, Series 2016-A, Series 2017-A and Series 2017-B (TransCanada Trust Notes)

Our TransCanada Trust Notes are issued pursuant to an Indenture which is governed by Canadian law and therefore not subject to the LIBOR Act or other legislative solution. In the event that such notes are not redeemed upon the first available redemption date applicable to each series of TransCanada Trust Notes we would consider management actions to align the fallback language in the Indenture with market standards.

Did subscription receipt holders of record as of June 30, 2016 receive a dividend or dividend equivalent payment on the payment date of July 29, 2016?

Subscription receipt holders of record on June 30, 2016, were entitled to receive a dividend equivalent payment on July 29, 2016, of $0.565 per subscription receipt.

What is the tax treatment for the subscription receipt’s dividend equivalent payments?

The dividend equivalent payments (DEP) are taxed partially as "interest" with the remainder deemed a "return of capital". The DEP are funded first from interest earned on escrowed funds and then from the escrowed funds themselves. The portion funded from escrowed funds is taxed as a return of capital, reducing an investor’s cost base (e.g. a partial refund).

The breakdown of interest and return of capital for the DEPs is as follows:

April 29, 2016, DEP:
CAD$0.000390082194616977 (interest)
CAD$0.564609917805383 (return of capital)

July 29, 2016, DEP:
CAD$0.0656290463768116 (interest)
CAD$0.499370953623188 (return of capital)

Non-Canadian Holders:
The Escrow Agent intends to withhold at the statutory rate of 25% (subject to reduction under an applicable income tax convention between Canada and the Non-Resident Holder's country of residence) on the portion of the DEP which is paid by way of a pro rata share of the interest earned on the escrowed funds that is paid to a Non-Resident Holder. The return of capital portion of the DEP will not be subject to a withholding tax.

Please contact your tax advisor for more information.

What did CPG common stockholders receive upon completion of the merger?

CPG common stockholders were entitled to receive US$25.50 in cash, less any applicable withholding taxes, for each share of CPG common stock that you own. You do not own any shares of the capital stock in the surviving corporation.

What is the tax treatment for the exchange of CPG common stock for cash?

The exchange of CPG common stock for cash was a taxable transaction. You will generally recognize a gain or loss in an amount equal to the difference between the amount of cash received and your adjusted tax basis in shares of CPG common stock. Backup withholding may also apply to the cash payments paid to a non-corporate US holder pursuant to the merger, unless the US holder or other payee provides a taxpayer identification number.

Please contact your tax advisor for more information.

What is the difference between a registered and a beneficial shareholder?

A beneficial shareholder is an investor who holds shares through a broker. The shares are registered to the brokerage, which holds the shares in its own name “to the benefit” of the investor, and passes all benefits such as voting rights and dividends to the investor. If your shares are held in a brokerage account, then you are a beneficial shareholder. Communications from TC Energy such as annual reports and management information circulars, as well as dividend payments are routed to beneficial shareholders through the broker.

A registered shareholder holds shares directly, registered in the investor’s own name. Communication with and dividend payments to registered shareholders are handled through our transfer agent, Computershare Trust Company.

Note that Investor Relations does not have access to individual shareholder accounts for either beneficial or registered shareholders, and therefore all account enquiries should be directed to your broker (for beneficial shareholders) or to our transfer agent (for registered shareholders).

How can I change my address?

Beneficial shareholders, please contact your broker.

Registered shareholders, please contact our transfer agent, Computershare Trust Company.

I’m not receiving dividends. Whom should I contact?

Beneficial shareholders, please contact your broker.

Registered shareholders, please contact our transfer agent, Computershare Trust Company.

I would like to transfer shares to another individual (including spouse, children, family trust, charitable organization, etc.). Whom should I contact?

Beneficial shareholders, please contact your broker.

Registered shareholders, please contact our transfer agent, Computershare Trust Company.

I am an executor of a deceased shareholder's estate. Whom can I contact to transfer the shares according to the shareholder’s will?

Beneficial shareholders, please contact your broker.

Registered shareholders, please contact our transfer agent, Computershare Trust Company.

Can I receive my reports electronically instead of in print?

Yes. Please refer to Electronic document delivery for details.

How much does TC Energy pay in dividends, and when is the next payment?

TC Energy, at the discretion of its board of directors, pays a quarterly dividend to common shareholders, and has a long history of increasing the dividend each year. Our Dividend information page has details, including the most recently declared dividend and payment dates.

TC Energy also pays dividends on outstanding preferred shares, according to the provisions of each issue. Details of our preferred shares can be found at Stock information.

What is TC Energy's dividend policy?

TC Energy does not have a formal dividend policy, and dividends are declared at the discretion of our board of directors. However, the company understands that the dividends it pays are an important component of shareholder return, and its stability and growth are critical to our investors. We are proud of our long history of paying and growing the dividend, and we anticipate that as we continue to execute on our capital program, growth in earnings and cash flow will enable future dividend growth.

For how many consecutive years has TC Energy raised its dividend to common shareholders?

On February 14, 2024, TC Energy's Board of Directors approved a dividend increase to $0.96 per share, or $3.84 on an annualized basis. This was the 24th consecutive year of dividend increases.

Are TC Energy’s dividends paid in US or Canadian Dollars?

TC Energy's dividends are paid in Canadian dollars. For US registered shareholders, the payment is converted to US dollars at the prevailing exchange rate on the payment date. Dividend payments to beneficial shareholders in accounts denominated in any currency other than Canadian dollars may be converted to that currency by your broker.

What is the Dividend Reinvestment Plan (DRIP)?

The Dividend Reinvestment Plan and Share Purchase Plan, commonly called the DRIP, allows registered common and preferred shareholders to reinvest their cash dividends in, and make optional cash contributions to purchase additional common shares of TC Energy. Key advantages are that participants are not required to pay brokerage commissions or administrative fees, and full investment of all funds is possible since fractional shares are also credited to the participant's account.

Are dividend payments made by direct deposit?

Yes, dividend payments to registered shareholders can be made by direct deposit. Please contact our transfer agent to register for direct deposit.

If you are a beneficial shareholder, please direct this question to your broker.

What shares of TC Energy can I buy?

TC Energy's common shares are traded on the Toronto Stock Exchange and the New York Stock Exchange, under the symbol ‘TRP’. TC Energy also has several outstanding issues of preferred shares, which are traded on the Toronto Stock Exchange.

New shareholders must purchase shares through a broker. Existing shareholders can make optional share purchases through our Dividend Reinvestment Plan and Share Purchase Plan.

What past stock splits have affected TC Energy Corporation (or previously TransCanada Corporation or TransCanada Pipelines Limited) shares?

There have been two stock splits in our history:

• June 12, 1974: 3-for-1 split. TSX price on that day: $9.88.
• February 20, 1984: 2-for-1 Stock Split. TSX price on that day: $16.00.

What were the details of the 1998 merger between TC Energy (then TransCanada) and NOVA Corporation?

On July 2, 1998, TC Energy (then called TransCanada PipeLines Limited or "TCPL") and NOVA Corporation merged and then split off the commodity chemicals business carried on by NOVA into a separate public company, NOVA Chemicals.

The effect of the transaction was as follows:

For details on the merger, please refer to TransCanada-NOVA Merger 1998.

Where can I find historical share price information?

Share price data from June 18, 1985 is available on this page, under the “Historical  Information” tab. Contact Investor Relations for dates prior to this (information may not be available for all dates).

I have share certificates for NOVA Corporation, Alberta Gas Trunk Line or TransCanada Pipelines Limited that have not been converted to TC Energy (previously TransCanada) shares.

How can I obtain my TC Energy shares?

Please contact our transfer agent, Computershare Trust Company.

When will you report earnings?

TC Energy will post earnings releases, analyst conference calls, and other notable events on the Events & presentations page. All future events are tentative. For earnings releases and analyst conference calls, we will issue a news release once the date is confirmed. Interested individuals can subscribe to receive news releases by email.

How can I obtain printed copies of annual and quarterly reports, or other information?

Please use print information request to submit a request for the information you are seeking. If the information you’re looking for is not listed, please use the box provided to provide details.

How do I find the information required to calculate my cost basis and capital gains?

We recommend that investors contact a tax advisor for questions regarding capital gains and tax implications. However, the following information may be of use in your calculations:

• Historical share price lookup on the Historical data page, under the “Historical Data” tab.
• Information on past stock splits.
• On July 2, 1998, TC Energy  (then called TransCanada PipeLines Limited “TCPL”) and NOVA Corporation merged and then split off the commodity chemicals business carried on by NOVA into a separate public company, NOVA Chemicals. More details.

Are TC Energy dividends eligible for the dividend tax credit (Canada)?

Yes. For details, please see Tax Information.

Are TC Energy dividends “qualifying” (US)?

Yes. For details, please see Tax Information.

Do you issue a 1099D or a K-1 form to US investors?

TC Energy issues a 1099D form to US investors. As we are not a partnership, we do not issue a K-1 form. For details, please see Tax information.

October 2024 Spin-off of Liquids Pipelines Business

On October 1, 2024, TC Energy Corporation announced the completion of the spin-off of its Liquids Pipelines business into South Bow Corporation. TC Energy shareholders retained their interest in TC Energy common shares and received a pro rata allocation of South Bow common shares. Each holder of TC Energy common shares generally received 0.2 of a South Bow common share for each TC Energy common share held on the Distribution Record Date

Canadian Tax Information

Resident shareholders should not realize a capital gain or capital loss as a result of the distribution. The adjusted cost base in TC Energy shares prior to the distribution is allocated based on the fair market values of TC Energy and South Bow immediately after the distribution. The allocation has been determined to be 91% to TC Energy common shares and 9% to South Bow common shares.

Click here for Notice of Adjusted Cost Base Allocation for further details.

U.S. Tax Information

The distribution should qualify as a tax-free distribution under section 355(a) of the Internal Revenue Code. U.S. holders of TC Energy common shares should recognize no gain or loss upon receipt of South Bow common shares except with respect to any cash received in lieu of fractional South Bow common shares. The tax basis in TC Energy common shares should be allocated between TC Energy common shares and South Bow common shares, including any fractional shares deemed received, in proportion to their relative fair market values at the date of the completion of the spin-off. While U.S. federal income tax law does not specifically prescribe how shareholders should determine the fair market values for this purpose, one reasonable approach would allocate the pre-spin-off aggregate tax basis in TC Energy common shares (i) 91% to TC Energy common shares and (ii) 9% to South Bow common shares.

The IRS Form 8937 can be accessed here for further details.