TC Energy Corporation announced the results of the conversion elections for its Cumulative Redeemable First Preferred Shares, Series 3 and Series 4. A total of 104,778 Series 3 Shares were elected for conversion into Series 4 Shares, while 1,822,829 Series 4 Shares were elected for conversion into Series 3 Shares.
Following these conversions, TC Energy will have 11,715,228 Series 3 Shares and 2,284,772 Series 4 Shares issued and outstanding. Both series will continue to be listed on the Toronto Stock Exchange under their respective symbols.
The Series 3 Shares will pay a fixed dividend at an annualized rate of 4.102 percent for the five-year period beginning June 30, 2025. The Series 4 Shares will pay a floating rate quarterly dividend, with the rate for the first quarter commencing June 30, 2025, set at 3.924 percent.
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