TC Energy provides conversion right and dividend rate notice for Series 5 and 6 preferred shares
12/31/2025 05:00 PM • 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.
TRP - 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.