For TC Energy, inflation has created a multibillion-dollar headache with costs soaring on a massive pipeline project that has already doubled the original budget of $6.6 billion
Can you explain what is going on with TC Energy Corp. ? The shares have fallen about 20 per cent in the past year, and the yield is now about 6.6 per cent, which makes me nervous. Should I be worried about a dividend cut?, inflation has created a multibillion-dollar headache with far-reaching implications for its business and stock price.at TC Energy’s Coastal GasLink project, a 670-kilometre pipeline that will deliver natural gas from northeastern B.C.
“We believe an asset monetization program in the $10-billion to $15-billion range could provide numerous benefits to the company,” said Robert Kwan, an analyst with RBC Dominion Securities, in a recent note to clients. Specifically, it would address concerns about funding TC Energy’s capital plans, substantially improve the company’s debt ratios and alleviate worries about its credit ratings, he said.
Now, about that 6.6-per-cent dividend yield. Yes, it’s well above TC Energy’s five-year average of about 4.9 per cent, but it’s not so egregiously high that it’s signalling a dividend cut. Indeed, TC Energy raised its dividend by 3.3 per cent in February – the 23rd consecutive annual increase – which is not what one would have expected if the dividend were in any danger.
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