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News  ›  GlobeNewswire Inc.

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

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Tc Energy Corporation
TC Energy provides conversion right and dividend rate notice for Series 5 and 6 preferred shares

TC Energy announced it will not redeem its Series 5 and Series 6 Cumulative Redeemable First Preferred Shares on January 30, 2026. Shareholders have the option to convert between share classes or retain their current shares. Series 5 shareholders retaining shares will receive a fixed dividend rate of 4.501%, while Series 6 shareholders will receive a floating rate of 3.732% for the next quarter. The conversion deadline is January 16, 2026.

Insights
BMY   positive

Trading under 8x earnings with 5.2% yield, strong product portfolio, and potential future growth from pipeline and partnerships


TRP   neutral

The announcement is a routine corporate action regarding preferred share conversion rights and dividend rate adjustments. The fixed dividend rate of 4.501% for Series 5 shares is moderately attractive in the current interest rate environment, but the news is primarily administrative in nature with no indication of operational performance changes or strategic developments.