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TC ENERGY REPORTS STRONG SECOND QUARTER FINANCIAL RESULTS Well positioned to secure future growth opportunities as energy transition evolves CALGARY , Alberta , July 29 , 2021 ( GLOBE NEWSWIRE ) - TC Energy Corporation ( TSX , NYSE : TRP ) ( TC Energy or the Company ) today announced net income attributable to common shares for second quarter 2021 of $ 982 million or $ 1.00 per share compared to net income of $ 1.3 billion or $ 1.36 per share for the same period in 2020. Comparable earnings for second quarter 2021 were $ 1.0 billion or $ 1.07 per common share compared to $ 863 million or $ 0.92 per common share in 2020. TC Energy's Board of Directors also declared a quarterly dividend of $ 0.87 per common share for the quarter ending September 30 , 2021 , equivalent to $ 3.48 per common share on an annualized basis . " During the first half of 2021 , our diversified portfolio of critical energy infrastructure assets continued to safely and reliably meet North America's growing demand for energy , " said François Poirier , TC Energy's President and Chief Executive Officer . " Comparable earnings of $ 2.23 per common share and comparable funds generated from operations of $ 3.8 billion in the first six months of the year reflect the utility - like nature of our business along with the consistently strong performance of our legacy assets and contributions from projects that entered service in 2020. " Our results are underpinned by strong demand for our services together with a constant focus on operational excellence . Flows and utilization levels across our network continue to be in line with historical norms despite the ongoing impacts of COVID - 19 , extreme weather events and energy market volatility . Once again , this highlights the vital role our infrastructure plays in the functioning of the North American economy and the well - being of millions of people across the continent . Given the solid start to the year , we continue to expect full - year 2021 comparable earnings to be generally consistent with last year's record results . " We are advancing a $ 21 billion secured capital program and working on a substantive portfolio of other similarly high - quality opportunities under development , " continued Poirier . " Importantly , all of our secured capital projects are underpinned by long - term contracts and / or regulated business models highlighting the fundamental need for this critical new infrastructure while at the same time giving us visibility to the earnings and cash flow they will generate as they enter service in the coming years . Through prudent financial management , we are poised to effectively self - fund our growth program through our internally generated cash flow and debt capacity . " Looking beyond our current suite of projects , we are well positioned to capture future growth prospects associated with our extensive asset footprint and deep organizational capabilities as well as others that arise as the world both consumes more energy and transitions to a cleaner energy future . Today we announced that , subject to customary conditions precedent and regulatory approvals , we have sanctioned the VR project on our Columbia Gas system . This project represents an approximate US $ 0.7 billion capital investment and , among other elements , includes the installation of electric compression which will reduce direct carbon dioxide equivalent emissions while addressing growing market demand by providing additional transportation services under long - term