TC Energy (TSX:TRP)(NYSE:TRP) has once again rewarded its shareholders with a dividend increase, marking 25 consecutive years of annual payout growth. In February, the company raised its dividend by 3.3%, bringing the total annual payment to $3.40 per share. With a yield of approximately 5.4%, TC Energy continues to stand out as a reliable income option for investors seeking both stability and consistent returns.
The dividend hike comes alongside strong financial performance for 2024. The company generated $13.8 billion in revenue this past year, reflecting 4% growth compared to the previous year. More impressively, net income climbed 62% to reach $4.6 billion, underlining the company’s ability to improve profitability despite shifting conditions in the energy sector. Part of that success stems from TC Energy’s recent decision to spin off its liquids pipelines business, enabling greater focus on natural gas transportation, storage, and power generation. By streamlining its operations, the company has created a more focused platform for future expansion.
Investor confidence has been reflected in the stock’s performance, with shares rising 30% over the past 12 months. Even after this solid gain, TC Energy trades at roughly 16 times trailing earnings, leaving room for further upside given its track record of stable cash flows and earnings growth. As a major player in North America’s energy infrastructure network, TC Energy benefits from strong demand for its services, particularly in natural gas, where long-term demand remains resilient.
For those looking to build or enhance an income-focused portfolio, TC Energy offers an attractive balance of reliable dividends, financial strength, and a clear strategy for long-term growth. Its combination of steady income and operational resilience makes it particularly appealing to dividend investors and those seeking dependable returns from a leading infrastructure business.
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