Keystone operator TC Energy sees EBITDA exceeding C$10 bln in 2022
Adds forecast details in paragraphs 2, 3 and 6, company background in paragraphs 4 and 5
Nov 19 (Reuters) - Canada's TC Energy TRP.TO, TRP.N said on Tuesday it expects comparable earnings before interest, taxes, depreciation and amortization to exceed C$10 billion ($7.57 billion) in 2022, driven by long-term contracts and assets.
The forecast represents an EBITDA increase of more than 16% from what the company reported for 2018.
The Keystone pipeline operator also said it expects dividend to grow at an average annual rate of 8% to 10% through 2021 and 5% to 7% 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 on Tuesday.
($1 = C$1.32)
(Reporting by Arunima Kumar in Bengaluru; Editing by Anil D'Silva and Maju Samuel)
((Arunima.Kumar@thomsonreuters.com; within U.S. +1 646 223 8780 (Extn 1760), outside U.S. +91 80 6749 1760))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.