This High-Yield Stock Expects High-End Dividend Growth Through 2020 (With Plenty More in the Pipeline)
Two years ago, TransCanada (NYSE: TRP) unveiled a bold five-year plan to steadily expand its energy infrastructure business so it could support 8% to 10% annual dividend growth through 2020. However, the Canadian energy infrastructure giant has outperformed those expectations and now believes dividend growth will come in at the upper end of that range. Further, the company recently extended its forecast by a year, with it now expecting to boost its payout by an additional 8% to 10% in 2021.
That's music to the ears of income-seekers because they can lock in a generous 3.7% yield today, while also enjoying meaningful income growth for at least the next four years. That said, given the company's current pipeline of projects, it should have plenty of fuel left in the tank to keep growing the payout well beyond the current horizon.
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Source: Fool.com
TC Energy Corp. Stock
Our community is currently high on TC Energy Corp. with 3 Buy predictions and 1 Sell predictions.
However, we have a potential of -29.79% for TC Energy Corp. as the target price of 29 € is below the current price of 41.31 €.
