TC Pipelines, LP (NYSE:TCP) announced a quarterly dividend on Wednesday, January 23rd, Wall Street Journal reports. Stockholders of record on Friday, February 1st will be paid a dividend of 0.65 per share by the pipeline company on Monday, February 11th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 8.13%. The ex-dividend date is Thursday, January 31st.
TC Pipelines has decreased its dividend payment by an average of 5.2% annually over the last three years. TC Pipelines has a payout ratio of 68.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect TC Pipelines to earn $3.19 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 81.5%.
Shares of TCP stock opened at $32.00 on Thursday. The company has a market capitalization of $2.28 billion, a PE ratio of 10.13 and a beta of 0.75. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.95 and a current ratio of 1.02. TC Pipelines has a fifty-two week low of $22.64 and a fifty-two week high of $52.35.
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About TC Pipelines
TC PipeLines, LP acquires, owns, and participates in the management of energy infrastructure businesses in North America. The company has interests in eight natural gas interstate pipeline systems that transport approximately 10.4 billion cubic feet per day of natural gas from producing regions and import facilities to market hubs and consuming markets primarily in the Western, Midwestern, and Eastern United States.
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