TransAlta Corporation (TAC) reports developments as a publicly traded power generator with operations in Canada, the United States and Western Australia. The company’s portfolio includes hydro, wind and solar, gas and energy-transition assets, with updates often tied to fleet availability, contracted generation, hedging activity, Alberta power-market conditions and cash-flow performance.
Company announcements also cover quarterly results and guidance, annual shareholder meeting outcomes, board and executive leadership changes, preferred share dividends and preferred share conversion mechanics. Operational news may address asset-specific matters within TransAlta’s generation fleet and the integration of acquired assets into its broader power platform.
TransAlta Corporation (TAC) reported second quarter 2020 results highlighting a comparable EBITDA of $217 million, matching 2019 figures, and free cash flow of $91 million, a 94% increase year-over-year. The company completed a $27 million acquisition of a cogeneration facility in Michigan and agreed to sell the Pioneer Pipeline for $128 million. Additionally, TransAlta continued its transition towards clean energy, announcing the retirement of Sundance Unit 3. Despite operational challenges due to COVID-19 and market conditions, the company maintained strong financial health with $1.6 billion in liquidity.
The Board of Directors of TransAlta Corporation (TAC) has declared a quarterly dividend of $0.0425 per common share, payable on October 1, 2020, to shareholders on record by September 1, 2020. For the Cumulative Redeemable Rate Reset First Preferred Shares, dividends were also announced for Series A, B, C, E, and G with varying rates and amounts. These dividends reinforce TransAlta's commitment to providing value to its shareholders.
TransAlta Corporation (NYSE: TAC) announced the retirement of its mothballed coal-fired Sundance Unit 3, effective July 31, 2020. This decision is part of TransAlta's strategy to achieve 100% clean electricity by 2025, driven by market conditions, the unit's age, and operational capacity. The company continues to operate a diversified fleet of generation assets, positioning itself to meet Alberta's electricity demands effectively. TransAlta is recognized for its contributions to sustainable energy and aims for long-term shareholder value.
TransAlta Corporation (TSX: TA, NYSE: TAC) is set to release its second quarter 2020 results on July 31, 2020, before market opening. A conference call will take place the same day at 9:00 a.m. MT (11:00 a.m. ET) for investors, analysts, and media to discuss the results. Participants are encouraged to contact the conference operator ahead of the call. The call will include a Q&A segment for media following analysts' questions. Related materials will be available on TransAlta's Investor Centre.