Friday, February 16th the Board of Directors of TC Energy Corporation (TRP) announced a quarterly dividend increase of from C$0.93 to C$0.96 per share that’s payable April 30, 2024 to holders of record March 28, 2024. This represents a 3.23% increase over the last quarterly dividend.
With current price C$53.82 (yesterday's close), this raise brings their dividend yield to 7.13%.
TC Energy is a member of Canadian Dividend All Star List with a 24 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 3.3, 4.7, 6.2 and 7.3 (Canadian Dividend All-Star List)
Since I own 135 shares of TRP, this will increase my portfolio's projected annual net dividend income by $8.95.
I was expecting an increase of around 5%, so this was a slight disappointment.
This is the third dividend increase I've received from TRP since initiating a position in February 2021. During this period, the dividend has grown moderately from C$0.87 to C$0.96 or 10.3%.
This increase raises my yield on cost to 6.74%.
Summary of 2024 Dividend Increases / Cuts
Click here to see my portfolio holdings.
You can follow the development of my dividends here.
Full Disclosure: Long TRP
Thanks for stopping by!
No comments:
Post a Comment