Crude-oil pipeline infrastructure company South Bow said its board has declared an initial dividend of 50 cents per share, which will be payable on Jan. 31, 2025, to shareholders of record at the close of Dec. 31.
The new dividend, $2 per share on an annual basis, represents a dividend yield of 8.4%, based on the stock's $23.63 closing price on the New York Stock Exchange on Thursday.
Last month, South Bow launched as an independent company after being spun off from TC Energy.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com