This Elite Dividend Stock Is Splitting Up
TC Energy (NYSE: TRP) is one of North America's largest energy infrastructure companies. It's one of the biggest natural gas pipeline companies on the continent, transporting a quarter of the gas used each day. The Canadian company also has a meaningful liquids pipeline business and a large-scale power and energy solutions operation.
The company recently revealed plans to split into two by spinning off its liquids pipeline operations into a separate publicly traded company. TC Energy believes the move will unlock new growth opportunities, enabling both companies to continue paying a growing dividend.
TC Energy has spent the past two years undergoing a strategic review to determine the best path forward amid the ongoing transition to lower-carbon energy. It decided that spinning off the liquids pipeline business was the optimal choice. The company plans to complete that spin-off in the second half of next year.
Source Fool.com
