Tc Energy Corporation (TSE:TRP) has released an update.
TC Energy Corporation has announced it will not redeem its Series 7 preferred shares, offering holders the choice to either keep them with a new fixed dividend rate of 5.985% for five years or convert them to Series 8 shares with a floating rate starting at 7.379%. Shareholders must indicate their decision by April 15, 2024, with certain conditions potentially leading to automatic conversion depending on the number of shares outstanding post-deadline. The opportunity for conversion will recur every five years, ensuring flexibility for investors.
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