TC Energy Corporation dividend history and coverage
Fiscal 2016–2025 dividends per share, payout of earnings and cash flow, and any decreases, read from TC Energy Corporation's own SEC filings. Data built 2026-11-01.
Dividend history
- Dividends per share (fiscal year)
- Year with a decrease
- Earnings per share (diluted)
Yield at today's price
The numbers, with their filings
| Fiscal year | Dividends/share | EPS (diluted) | Payout of EPS | Div ÷ op. cash flow | Filing |
|---|---|---|---|---|---|
| FY2025 | 3.400 | 3.27 | 104% | 48% | annual report |
| FY2024 | 3.703 | 4.43 | 84% | 51% | annual report |
| FY2023 | 3.720 | 2.75 | 135% | 38% | annual report |
| FY2022 | 3.600 | 0.64 | >200% | 50% | 40-F |
| FY2021 | 3.480 | 1.86 | 187% | 48% | 40-F |
| FY2020 | 3.240 | 4.74 | 68% | 42% | 40-F |
| FY2019 | 3.000 | 4.27 | 70% | 25% | 40-F |
| FY2018 | 2.760 | 3.92 | 70% | 24% | 40-F |
| FY2017 | 2.500 | 3.43 | 73% | 26% | 40-F |
| FY2016 | 2.260 | 0.16 | >200% | 28% | 40-F |
Dividends per share: as declared per common share in the company's annual reports. Div ÷ op. cash flow = common dividends paid ÷ operating cash flow. All TC Energy Corporation filings on EDGAR ↗
Data note. On October 1, 2024 TC Energy spun off its liquids pipelines as South Bow. From the fourth quarter of 2024 TC Energy's dividend was reset to C$0.8225 a quarter, with holders receiving South Bow's dividend separately; earlier years are not adjusted.
Dividend decrease, in the company's words
TC Energy Corporation: -14.3%
Quarterly dividend C$0.9600 → C$0.8225.
“The dividend declared reflects TC Energy's proportionate allocation following the spinoff Transaction.”
TC Energy does not call this a cut. On October 1, 2024 holders received 0.2 South Bow shares per TC Energy share, and the company said dividends stayed whole on a combined basis. It raised the quarterly dividend to C$0.85 for 2025.
What the filings showed beforehand: payout of earnings FY2021 187%, FY2022 >200%, FY2023 135%; cash payout FY2021 not covered, FY2022 not covered, FY2023 not covered.
What $1,000 of TC dividends is worth after tax
Canadian resident (2026 estimate)
| Account | You keep | Why |
|---|---|---|
| Non-registered | $936 | Eligible-dividend gross-up and credits (assumes the dividend is designated eligible, as large Canadian public companies' dividends usually are; check your T5) |
| TFSA | $1,000 | Tax-free |
| RRSP / RRIF | $1,000 | No tax now; withdrawals are taxed later as ordinary income |
US taxpayer (2026 estimate)
Example: married filing jointly, $120,000 of other taxable income, 22% ordinary bracket.
| Account | You keep |
|---|---|
| Taxable brokerage | $850 |
| Roth IRA | $1,000 |
| Traditional IRA / 401(k) | $1,000* |
* Nothing is taxed when the dividend is paid; withdrawals are taxed later as ordinary income.
Assumes qualified-dividend treatment (holding period met). Canadian dividends paid to US residents generally have 15% Canadian tax withheld under the treaty, creditable on a US return; not modelled here. Use your own numbers.
Frequently asked questions
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What is TC Energy Corporation's dividend yield?
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