TC Energy provides conversion right and dividend rate notice for Series 5 and 6 preferred shares

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[{"type":"text","content":"TC Energy provides conversion right and dividend rate notice for Series 5 and 6 preferred shares\nCALGARY, Alberta, Dec. 31, 2025 (GLOBE NEWSWIRE) -- News Release – TC Energy Corporation (TSX:TRP) (NYSE:TRP) (TC Energy) today announced that it does not intend to exercise its right to redeem its Cumulative Redeemable First Preferred Shares, Series 5 (Series 5 Shares) and Cumulative Redeemable First Preferred Shares, Series 6 (Series 6 Shares) on Jan. 30, 2026. As a result, subject to certain conditions: (a) the holders of Series 5 Shares have the right to choose one of the following options with regard to their shares: to retain any or all of their Series 5 Shares and continue to receive a fixed rate quarterly dividend; orto convert, on a one-for-one basis, any or all of their Series 5 Shares into Series 6 Shares and receive a floating rate quarterly dividend, and (b) the holders of Series 6 Shares have the right to choose one of the following options with regard to their shares: to retain any or all of their Series 6 Shares and continue to receive a floating rate quarterly dividend; orto convert, on a one-for-one basis, any or all of their Series 6 Shares into Series 5 Shares and receive a fixed rate quarterly dividend. Should a holder of Series 5 Shares choose to retain their shares, such shareholders will receive the new annual fixed dividend rate applicable to Series 5 Shares of 4.501 per cent for the five-year period commencing Jan. 30, 2026 to, but excluding, Jan. 30, 2031. Should a holder of Series 5 Shares choose to convert their shares to Series 6 Shares, holders of Series 6 Shares will receive the floating quarterly dividend rate applicable to the Series 6 Shares of 3.732 per cent for the three-month period commencing Jan. 30, 2026 to, but excluding, April 30, 2026. The floating dividend rate will be reset every quarter. Should a holder of Series 6 Shares choose to retain their shares, such shareholders will receive the floating quarterly dividend rate applicable to Series 6 Shares of 3.732 per cent for the three-month period commencing Jan. 30, 2026 to, but excluding, April 30, 2026. The floating dividend rate will be reset every quarter. Should a holder of Series 6 Shares choose to convert their shares to Series 5 Shares, holders of Series 5 Shares will receive the new fixed quarterly dividend rate applicable t...

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