TC Energy EBITDA to surpass $10B by 2022
Canada’s TC Energy said on Tuesday it expects comparable earnings before interest, taxes, depreciation and amortization to exceed $10 billion in 2022, driven by long-term contracts and assets.
The forecast represents an EBITDA increase of more than 16 per cent from what the company reported for 2018, according to Reuters.
The Keystone pipeline operator also said it expects dividend to grow at an average annual rate of eight per cent to 10 per cent through 2021 and five to seven per cent beyond 2021.
TC Energy, formerly known as TransCanada, has been investing heavily in the disputed 830,000 barrel per day (bpd) Keystone XL pipeline, which is expected to boost export volumes from the oil marketing hub of Alberta to U.S. refineries.
Earlier this month, the company said that its Keystone pipeline has returned to service after a leak in North Dakota spilled more than 9,000 barrels.
The company also said on Tuesday it would no longer issue additional common shares from treasury under its dividend reinvestment program.
The company is scheduled to host its annual investor day later today.