TC Energy Corporation (TC Energy or the Company) today announced net income attributable to common shares for fourth quarter 2021 of CAN$1.1 billion or CAN$1.14 per share compared to net income of CAN$1.1 billion or CAN$1.20 per share for the same period in 2020.
For the year ending 31 December 2021, net income attributable to common shares was CAN$1.8 billion or CAN$1.87 per share compared to net income of CAN$4.5 billion or CAN$4.74 per share for 2020. Comparable earnings for fourth quarter 2021 were CAN$1.0 billion or CAN$1.06 per common share compared to CAN$1.1 billion or CAN$1.15 per common share in 2020. Comparable earnings for the year ending 31 December 2021 were CAN$4.2 billion or CAN$4.27 per common share compared to CAN$3.9 billion or CAN$4.20 per common share for the comparable period in 2020. Net cash provided by operations for the year ended 31 December 2021 was CAN$6.9 billion compared to CAN$7.1 billion for 2020. Comparable funds generated from operations for the year ending 31 December 2021 were CAN$7.4 billion, in-line with 2020 results. TC Energy's Board of Directors also declared a quarterly dividend of $0.90 per common share for the quarter ending 31 March 2022, equivalent to $3.60 per common share on an annualised basis, an increase of 3.4 per cent. This is the twenty-second consecutive year the Board has raised the dividend.
“Our CAN$100 billion diversified portfolio of high-quality, long-life energy infrastructure assets continued to perform extremely well in 2021 as evidenced by our strong financial results,” said François Poirier, TC Energy’s President and Chief Executive Officer. “Comparable earnings of CAN$4.2 billion or CAN$4.27 per common share and comparable funds generated from operations of CAN$7.4 billion reflect the strong demand for our services, contributions from new assets placed into service and our constant focus on operational excellence.”