DRIP on TRP Preferreds

According to TC Energy:

Dividend Reinvestment and Share Purchase Plan
Allows registered common and preferred shareholders to reinvest their cash dividends in additional common shares of TC Energy. Participants are not required to pay brokerage commissions or administrative fees.

Beginning with dividends declared on July 27, 2022, common shares purchased with reinvested cash dividends are issued from Treasury at a 2% discount to the daily average of the weighted average price of all common shares of the Corporation traded on the Toronto Stock Exchange during each of the five trading days preceding the applicable dividend payment date.

Full investment of all funds is possible since fractional shares are also credited to the participant’s account. Statements of Account are mailed to participants each quarter detailing the investments made on their behalf.

Optional cash payments
Participants in the plan may make optional cash payments of up to $10,000 per quarter to purchase additional common shares.

Optional cash payments may be made at any time, but payments must be received by our Plan Agent, Computershare Investor Services, Inc. at least three business days prior to the dividend payment dates which are generally the last business day of each of January, April, July and October.

Optional cash payments can be made through the authorization/enrollment form (below).

How to enroll
Beneficial shareholders may be able to enroll through their brokerage firm and should contact their broker. Registered shareholders are required to complete the authorization/enrollment form (below).

The following TRP preferreds are outstanding: TRP.PR.A, TRP.PR.B, TRP.PR.C, TRP.PR.D, TRP.PR.E, TRP.PR.F, TRP.PR.G, TRP.PR.H and TRP.PR.I.

4 Responses to “DRIP on TRP Preferreds”

  1. DR says:

    TRP is not one of my names but assume it much like the rest of em

    imagine the stupidity of selling rate resets at or below market in this environment.

    every last one of these issuers will rue the day they weren’t more aggressive with NCIBs on their prefs when it is clear that goc5yr expectations are firmly entrenched with a 3 or 4 handle

  2. RAV4guy says:

    DR said:
    “imagine the stupidity of selling rate resets at or below market in this environment.”

    I read the above to say that TRP is only issuing TRP common shares through this DRIP, even if the dividend originated with a preferred share. They are not issuing any preferred shares through the DRIP.

    The common shares are also down in price. They are selling them cheap. They must really need to conserve cash. Their capital requirements are huge at present. I feel this is negative news for the common share price. Hold or sell the common, I have no real idea, but I think I will sell.

  3. DR says:

    ah, my bad RAV4. makes more sense it they get any takers…

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