The company’s revenue climbed 17% to C$4.17 billion, supported by a network that remains largely insulated from commodity price swings through long-term, "take-or-pay" contracts. This stability allowed the board to approve a dividend increase to C$0.8775 per share, representing an annual payout of C$3.51. Chief Executive Francois Poirier noted that the firm successfully placed C$8.3 billion of projects into service over the past year, even as capital spending decreased by 20% compared to 2024 levels.
In section Market Quotes
TC Energy Hikes Dividend as Natural Gas Volumes Surge to Records
TC Energy Corp. increased its quarterly dividend by 3.2% after posting fourth-quarter earnings that surpassed market expectations, bolstered by record-breaking natural gas deliveries and a successful strategic pivot. The Canadian infrastructure giant reported comparable EBITDA of C$2.96 billion, exceeding the C$2.89 billion forecast by analysts, as the company capitalizes on its transition toward a gas-and-power-focused portfolio.
Operational performance was headlined by a significant spike in pipeline throughput. In Canada, deliveries averaged 27.2 billion cubic feet per day, hitting an all-time record of 33.2 billion on January 22. The U.S. segment saw a 9.5% year-over-year increase in daily gas flows, while Mexican operations remained steady. These gains follow the late-2024 completion of the South Bow oil pipeline spinoff, which left TC Energy focused on its 58,000-mile natural gas network and its significant stake in the Bruce nuclear facility.
Strategic Focus and Capital Discipline
Management expressed confidence in maintaining a disciplined growth strategy, targeting C$6 billion in net annual capital spending through 2030. This investment cycle is designed to reinforce a portfolio that now generates roughly 30% of Ontario’s electricity via nuclear power alongside its massive midstream footprint.Key performance indicators for the period include:
- A 17% increase in total revenue, reaching C$4.17 billion.
- Record-breaking Canadian gas delivery peaks in early 2025.
- Successful execution of the South Bow divestiture to streamline core operations.
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