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TC ENERGY REPORTS STRONG RESULTS WHILE PROGRESSING NUMEROUS GROWTH INITIATIVES Expects to sanction approximately $ 7 billion of new capital projects in 2021 Modified dividend growth outlook enhances ability to fund substantial new growth opportunities CALGARY , Alberta , Nov. 05 , 2021 ( GLOBE NEWSWIRE ) - TC Energy Corporation ( TSX , NYSE : TRP ) ( TC Energy or the Company ) today announced net income attributable to common shares for third quarter 2021 of $ 779 million or $ 0.80 per share compared to net income of $ 904 million or $ 0.96 per share for the same period in 2020 . Comparable earnings for third quarter 2021 were $ 1.0 billion or $ 0.99 per common share compared to $ 893 million or $ 0.95 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 December 31 , 2021 , equivalent to $ 3.48 per common share on an annualized basis . " During the first nine months of 2021 , our diversified portfolio of essential energy infrastructure assets continued to perform very well and reliably meet North America's growing demand for energy , " said François Poirier , TC Energy's President and Chief Executive Officer . " Comparable earnings of $ 3.21 per common share were five per cent higher compared to the same period last year while comparable funds generated from operations totaled $ 5.3 billion . Both amounts reflect the strong performance of our assets and the utility - like nature of our business together with contributions from projects that entered service in 2020 and 2021. " Our results are underpinned by strong demand for our services along with a constant focus on operational excellence . Flows and utilization levels across many of our systems are higher than historical norms despite the ongoing impacts of COVID - 19 and energy market volatility . Given the strong performance year - to - date , we now expect full- year 2021 comparable earnings per share to be modestly higher than last year's record results . " We are advancing our $ 22 billion secured capital program and working on a substantive number of other similarly high - quality opportunities , " 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 . " Looking forward , TC Energy expects its industry leading portfolio of secured capital projects to grow substantially in the coming years as it continues to expand , extend and modernize its existing natural gas pipeline network , advances the Bruce Power life extension program and progresses plans to use renewable energy to power certain of its proprietary energy loads . The Company is also working on numerous other renewable energy projects – from pumped hydro storage to solar to wind and progressing new initiatives in carbon transportation and sequestration as well as large- scale hydrogen production hubs . Success in advancing our current slate of secured projects and various other growth initiatives is expected to support long - term growth in earnings before interest , taxes , depreciation and amortization , or EBITDA , as well as