Tc Energy Corporation (TSE:TRP) has released an update.
TC Energy Corporation has announced that it will not redeem its Series 7 preferred shares and is providing shareholders with options to either retain these shares with a new fixed annual dividend rate of 5.985% for the next five years or convert them to Series 8 shares with a floating quarterly dividend starting at 7.379%. Shareholders must communicate their decision by April 15, 2024, with automatic conversions happening if certain conditions regarding the minimum number of shares outstanding are met. This offers shareholders a potential opportunity for strategic investment decisions based on their dividend preference.
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