TC Energy Announces Preferred Shares Conversion Results

TC Energy ( (TSE:TRP) ) has issued an update.

TC Energy announced the results of its conversion elections for Series 1 and Series 2 preferred shares, with a notable number of shares being exchanged between the two series. Following these conversions, the company will have 18,424,004 Series 1 Shares and 3,575,996 Series 2 Shares outstanding, both continuing to trade on the Toronto Stock Exchange. The Series 1 Shares will pay a fixed dividend rate, while the Series 2 Shares will have a floating rate, impacting TC Energy’s financial structuring and investor returns. This strategic move reflects TC Energy’s ongoing efforts to optimize its capital structure and maintain its competitive positioning in the industry, offering flexibility and value to its shareholders.

More about TC Energy

TC Energy is a leading energy company with a team of over 6,500 experts dedicated to connecting the world to essential energy resources. The company’s extensive natural gas infrastructure network facilitates the efficient movement, generation, and storage of energy, serving homes and businesses in North America and through LNG exports globally. TC Energy also invests strategically in power generation, enhancing its low-risk energy portfolio.

YTD Price Performance: 35.33%

Average Trading Volume: 2,431,404

Technical Sentiment Consensus Rating: Sell

Current Market Cap: $47.57B

See more data about TRP stock on TipRanks’ Stock Analysis page.