On Friday, February 13, 2026, the Board of Directors of TC Energy Corporation (TSE: TRP) announced a quarterly dividend increase from C$0.85 to C$0.8775 per share. The dividend will be payable on April 30, 2026, to shareholders of record as of March 31, 2026. This represents a 3.24% increase over the prior quarterly dividend.
Current Dividend Yield and Income Impact
At today’s opening price of C$85.30, this increase raises TC Energy’s forward dividend yield to approximately 4.11%.
As an owner of 170 shares of TC Energy Corporation, this dividend increase adds approximately $10.23 to my projected annual net dividend income. TC Energy continued its dividend growth trend from previous years, which was in line with my expectations, and I am very pleased with this increase.
Long-Term Dividend Growth Track Record
TC Energy Corporation is a member of the Canadian Dividend All-Star List with a 25-year streak of dividend increases. According to the Canadian Dividend All-Star data, its dividend growth rates are:
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1-year: 3.3%
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3-year: 3.3%
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5-year: 4.1%
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10-year: 6.7%
It is worth noting that TC Energy’s dividend was reduced in 2024 due to the South Bow spin-off. However, when accounting for the spin-off, the combined dividends of TC Energy and South Bow effectively maintained the pre-spin dividend level, as both companies declared dividends reflecting their proportionate share of the original payout.
This recent dividend increase marks the fifth consecutive raise I’ve received since initiating my position in February 2021. Over that time, the adjusted quarterly dividend (post spin-off) has grown from C$0.7454 to C$0.8775 per share—an increase of approximately 17.7%.
At the time of writing, TRP represents about 1.08% of my portfolio and contributes approximately 1.07% of my projected annual dividend income. Following this increase, my yield on cost stands at 6.19%.
Quick Valuation Take
TC Energy appears reasonably valued at current levels. The company benefits from stable, regulated cash flows driven by its pipeline and energy infrastructure assets.
Dividend Safety and Outlook
The dividend remains supported by predictable cash flows, although the company continues to manage a relatively high payout ratio and capital-intensive business model. Going forward, investors can likely expect continued low single-digit dividend growth.
Final Thoughts
This was a solid and expected dividend increase from TC Energy. Despite the complexity introduced by the 2024 spin-off, the underlying income stream remains intact. TC Energy continues to serve as a dependable income generator in my portfolio.
Summary of 2026 Dividend Increases / Cuts
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Full Disclosure: Long TSE:TRP
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