TransAlta Stock Price, News & Analysis

TransAlta 's Board of Directors has announced dividend declarations for both common and preferred shares. Common shareholders will receive a quarterly dividend of $0.06 per share, payable on January 1, 2025, with a record date of December 1, 2024. The company also declared quarterly dividends for its Preferred Shares series, with rates ranging from 2.877% to 7.305%, all payable on December 31, 2024. The Series B and D Preferred Shares feature quarterly floating rates that reset each quarter. All amounts are in Canadian dollars.

TransAlta (TSX: TA) (NYSE: TAC) has announced the release of its third quarter 2024 results on Tuesday, November 5, 2024, before markets open. A conference call and webcast for investors, analysts, and media will be held the same day at 9:00 a.m. Mountain Time (11:00 a.m. ET).

The company has provided webcast and telephone registration links for interested parties to participate in the conference call. Related materials will be available on TransAlta's Investor Centre website. For those unable to attend, a replay and transcript will be accessible online.

TransAlta is a diverse electrical power generation company operating in Canada, the United States, and Australia. It is one of Canada's largest wind power producers and Alberta's largest hydroelectric power producer. The company has achieved a 66% reduction in GHG emissions since 2015 and received an upgraded MSCI ESG rating of AA.

TransAlta (TSX: TA; NYSE: TAC) has announced the results of the conversion process for its Cumulative Redeemable Rate Reset Preferred Shares, Series G (Series G Shares) into Cumulative Redeemable Floating Rate Preferred Shares, Series H (Series H Shares). The company received election notices for the conversion of only 20,607 Series G Shares, which falls short of the one million shares required to initiate the conversion process. Consequently, no Series G Shares will be converted into Series H Shares on September 30, 2024. This announcement follows TransAlta's previous press release dated August 22, 2024, which outlined the conversion option for shareholders.

TransAlta (TSX: TA; NYSE: TAC) has announced dividend rates for its Series G and Series H Preferred Shares. For Series G Shares outstanding after September 30, 2024, the annual dividend rate will be 6.77300% for the five-year period ending September 30, 2029. This rate is based on the five-year Government of Canada bond yield plus 3.80000%.

For any Series H Shares issued on September 30, 2024, the initial annual dividend rate will be 8.00500% for the period ending December 31, 2024. This floating rate is calculated as the 90-day Government of Canada Treasury Bills rate plus 3.80000% and will be reset quarterly.

Shareholders wishing to convert their Series G Shares must instruct their broker by 3:00 p.m. (MDT) / 5:00 p.m. (EDT) on September 16, 2024.

TransAlta (TSX: TA; NYSE: TAC) has announced that it will not redeem its Series G Preferred Shares on September 30, 2024. As a result, shareholders have the option to convert their Series G Shares into Series H Shares on a one-for-one basis. The dividend rates for both series will be announced on September 3, 2024.

Key points:

• Conversion Date: September 30, 2024
• Current outstanding Series G Shares: 6,600,000
• Conversion deadline: 3:00 p.m. (MST) / 5:00 p.m. (EST) on September 16, 2024
• Automatic conversion conditions apply if less than 1,000,000 shares remain in either series
• Series H Shares listing on TSX is conditionally approved

TransAlta (TSX: TA, NYSE: TAC) reported strong financial results for Q2 2024, exceeding expectations despite a year-over-year decline in Alberta spot power prices. Key highlights include:

• Free Cash Flow (FCF) per share of $0.57, supported by hedging strategies and new energy sources.
• Adjusted EBITDA of $312 million, down from $387 million in Q2 2023.
• Net earnings attributable to common shareholders of $56 million, equating to $0.18 per share.
• Cash flow from operating activities increased to $108 million, up by $97 million from Q2 2023.

The company achieved commercial operation of new wind facilities and continued share repurchases, enhancing shareholder value. TransAlta reaffirmed its 2024 outlook, projecting an Adjusted EBITDA of $1,150-$1,300 million and FCF of $450-$600 million.

TransAlta (TSX: TA) (NYSE: TAC) has announced its quarterly dividend declarations. The Board of Directors declared a $0.06 per common share dividend, payable on October 1, 2024, to shareholders of record on September 1, 2024. Additionally, dividends were declared for various series of Cumulative Redeemable Rate Reset First Preferred Shares, with rates ranging from 2.877% to 7.972%. These preferred share dividends cover the period from June 30, 2024, to September 30, 2024, with a record date of September 1, 2024, and a payment date of September 30, 2024. All amounts are in Canadian dollars unless otherwise noted.

TransAlta will release its second quarter 2024 results on August 1, 2024, before market open. A conference call and webcast to discuss these results will be held at 9:00 a.m. Mountain Time (11:00 a.m. ET) the same day. Investors, analysts, media, and interested parties are invited to participate. The webcast link is available, and participants need to register in advance. Related materials will be accessible on TransAlta's Investor Centre section.

TransAlta is a major producer of wind and hydroelectric power in Canada, with significant operations in the U.S. and Australia. The company emphasizes sustainable operations and has achieved a 66% reduction in greenhouse gas emissions since 2015. Financial details and further information will be available on TransAlta's website.

TransAlta (TSX: TA, NYSE: TAC) has entered into an automatic share purchase plan (ASPP) with its broker for repurchasing its common shares under the previously announced normal course issuer bid (NCIB). The NCIB allows for the purchase of up to 14 million shares from May 31, 2024, to May 30, 2025. So far, 1.7 million shares have been bought at an average price of $9.77, totaling $16.6 million since the NCIB's start. The ASPP, effective July 1, 2024, will enable share purchases even during periods when TransAlta cannot buy shares due to regulatory or blackout restrictions. All purchased shares will be canceled to enhance shareholder returns. The ASPP will terminate either upon reaching its purchase limit, by August 6, 2024, or if terminated by the company.