NEWS: TC Energy reports $1.1-billion Q4 profit, raises quarterly dividend to 90 cents

Pipes intended for construction of the Keystone XL pipeline are shown in Gascoyne, N.D. on Wednesday April 22, 2015. TC Energy Corp. reported a first-quarter profit of $1.15 billion, up from $1.0 billion a year ago. THE CANADIAN PRESS/Alex Panetta

CALGARY — TC Energy Corp. raised its dividend as it reported a fourth-quarter profit of $1.1 billion.

The pipeline company says it will now pay a quarterly dividend of 90 cents per share, up from 87 cents per share.

The increased payment to shareholders came as TC Energy says its fourth-quarter amounted to $1.14 per share compared with a profit of $1.1 billion or $1.20 per share a year earlier when the company had fewer shares outstanding.

Revenue totalled nearly $3.6 billion, up from nearly $3.3 billion in the last three months of 2020.

TC Energy says its comparable earnings for fourth quarter 2021 amounted to $1.06 per share compared with $1.15 per share in 2020.

Analysts on average had expected an adjusted profit of $1.07 per share, according to financial markets data firm Refinitiv.

This report by The Canadian Press was first published Feb. 15, 2022.

Companies in this story: (TSX:TRP)

The Canadian Press

News from © The Canadian Press, 2022. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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