TransAlta Stock Price, News & Analysis

TransAlta Corporation will conduct its 2023 Annual Meeting of Shareholders on April 28, 2023, at 12:30 p.m. MT in a virtual format. The meeting will focus on formal business only, with no management presentation. For detailed voting information, shareholders can refer to the management proxy circular available on their website. Additionally, TransAlta will release its Q1 2023 earnings on May 5, 2023, followed by a conference call at 9:00 a.m. MT to discuss the results. Investors can access the call via a toll-free number or webcast. The meeting aims to solidify corporate governance and engage with stakeholders on critical issues facing the company.

TransAlta Corporation (TAC) announced an automatic share purchase plan (ASPP) to enhance share buybacks under its existing normal course issuer bid (NCIB). The company has approval to repurchase up to 14 million shares, approximately 5.2% of its outstanding shares, until May 30, 2023. Since the NCIB commenced on May 31, 2022, TransAlta has repurchased 5,518,000 shares at an average price of $11.85, totaling $65.4 million. The ASPP allows purchases during restricted periods, aiming to optimize capital allocation and maximize shareholder returns.

TransAlta Corporation (NYSE: TAC) has entered a definitive agreement to acquire a 50% interest in the Tent Mountain Renewable Energy Complex, a 320 MW pumped hydro energy storage project in Alberta. The acquisition includes land rights, fixed assets, and intellectual property, with a total transaction value of up to $25 million. This project aims to enhance the reliability of Alberta’s grid amid growing renewable energy. TransAlta has extensive hydroelectric experience and expects construction to start in 2026 with operations between 2028 and 2030. The deal remains subject to customary conditions and is anticipated to close in March 2023.

TransAlta Corporation (NYSE: TAC) will announce its fourth quarter and full year 2022 results on February 23, 2023, before market opening. A conference call will occur at 9:00 a.m. Mountain Time (11:00 a.m. ET) on the same day for investors and analysts to discuss these results. TransAlta Renewables Inc. will also release its financial results on the same date. Investors can join via a toll-free call or a webcast, with an instant replay available afterward. The company is recognized as one of Canada’s largest wind power producers and has achieved a 61% reduction in GHG emissions since 2015.

TransAlta Corporation (TAC) and Lafarge Canada have announced a partnership to develop low-carbon concrete projects in Alberta. The initiative will utilize landfilled fly ash from TransAlta's closed coal operations to replace cement in concrete manufacturing. The Ash-TEK Ponded Ash Beneficiation System will process the fly ash, ensuring it meets market and regulatory requirements. This collaboration is aimed at reducing carbon emissions in construction and aligns with the companies' sustainability goals. The project received $15 million funding from Emissions Reduction Alberta to support its advancement.

TransAlta Corporation (TAC) announced its financial outlook for 2023, projecting adjusted EBITDA between $1.20 billion and $1.32 billion. Free cash flow is anticipated between $560 million and $660 million, with per share estimates of $2.07 to $2.44. The company plans to invest $3.6 billion in its Clean Electricity Growth Plan, aiming to add 2 GW of renewable energy capacity. Notably, Ms. Manjit Sharma will join the Board of Directors on January 1, 2023. 2023 priorities include advancing customer-centric energy solutions and integrating new clean energy projects.

The Board of Directors of TransAlta Corporation (TAC) declared a quarterly dividend of $0.055 per common share, payable on April 1, 2023. Shareholders of record as of March 1, 2023 will receive this dividend. Additionally, dividends for various preferred shares were announced, including Series A, B, C, D, E, and G, with rates ranging from 2.877% to 7.233% and payment set for March 31, 2023.

TransAlta Corporation (NYSE: TAC) announced a public offering of US$400 million in 7.750% senior notes due November 15, 2029. The offering is priced at 100% of the principal amount, yielding approximately 5.982% after hedging. Proceeds will repay C$100 million drawn on its credit facility and finance green projects under its Green Bond Framework. The offering is expected to close around November 17, 2022, and details can be accessed via SEC filings.