RE:RE:2 for 1, sounds great to me According to the press release, the actual split into two companies isn't scheduled to occur until H2 2024 (a year or more away), so after the post-announcement hub-bub in the markets tomorrow and perhaps Monday, the volatility should ease. "TC Energy expects to seek shareholder approval of the Transaction at a meeting of shareholders in mid-2024. The Transaction will be implemented through a court-approved plan of arrangement under the Canada Business Corporations Act. In addition to TC Energy shareholder and court approvals, the Transaction is subject to receipt of favourable tax rulings from Canadian and U.S. tax authorities, receipt of necessary regulatory approvals and satisfaction of other customary closing conditions. TC Energy expects that the Transaction will be completed in the second half of 2024."
Dividend growth is expected to continue for both companies post-split:
Energy infrastructure company: "Sustainable annual dividend growth rate of three to five per cent supported by conservative payout ratios and one of North America’s largest regulated natural gas businesses."
Liquids Pipelines Company:
"Sustainable annual dividend growth of two to three per cent expected to be commensurate with comparable EBITDA growth outlook, while adhering to conservative dividend payout ratios."