(Calgary) TC Energy increased its dividend after announcing a profit of 1.46 billion in the fourth quarter on Friday.
The pipeline operator will now pay a quarterly dividend of 96 cents per share, compared to 93 cents per share.
The increase in the payment to shareholders comes as TC Énergie announced that its profit amounted to $1.41 per share for the quarter which ended December 31.
This compares with a loss of $1.45 billion, or $1.42 per share, that was reported in the final three months of 2022, when the company took a large one-time charge related to rising costs. of its Coastal GasLink pipeline project.
TC Energy points out that its comparable earnings per share amounted to $1.35 during its most recent quarter, up from comparable earnings of $1.11 per share a year earlier.
Revenue for the quarter totaled 4.24 billion, compared to 4.04 billion in the fourth quarter of 2022.