TC Energy to redeem outstanding preferred shares, series 15

By William Gullotti

Buffalo, N.Y., April 1 – TC Energy Corp. plans to redeem its outstanding cumulative redeemable minimum rate reset first preferred shares, series 15, on May 31, according to a press release on Friday.

The company expects to declare a final quarterly dividend, payable at redemption, of C$0.30625 per share to shareholders of record on May 17 for the period up to, but excluding, the redemption date.

The dividend payment will be separate from the C$25-par redemption consideration.

According to the press release, there is one registered holder of the series 15 shares. Non-registered holders were advised in the release to seek redemption instructions from their broker or other appropriate intermediary.

The Calgary, Alta.-based natural gas company develops and operates energy infrastructure in Canada, the United States and Mexico.

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