TC Energy (TSE:TRP) has released an update.
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TC Energy Corporation has set September 25, 2024, as the record date for the spinoff of its Liquids Pipelines business into a new entity, South Bow Corporation. Shareholders will receive a pro rata interest in South Bow in addition to retaining their TC Energy shares. The arrangement, which includes tax rulings, shareholder and court approvals, is expected to be effective by October 1, 2024, with independent dividends from both companies anticipated for the fourth quarter of 2024.
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