TransAlta Stock Price, News & Analysis

TransAlta Corporation (TSX: TA, NYSE: TAC) has declared a quarterly dividend of $0.05 per common share, payable on October 1, 2022. The record date for this dividend is September 1, 2022. Additionally, dividends for its Cumulative Redeemable Rate Reset First Preferred Shares include various series with rates ranging from 2.877% to 5.854%, all payable on September 30, 2022. This reflects TransAlta's commitment to providing long-term shareholder value while being one of Canada's largest producers of wind and hydroelectric power.

TransAlta Corporation (NYSE: TAC) issued a correction regarding the release dates for its second quarter 2022 results. TransAlta Renewables Inc. will report results before markets open on August 4, 2022, while TransAlta's own results will follow on August 5, 2022. A conference call for TransAlta Renewables is scheduled for 9:00 a.m. MT on August 5, 2022. The release aims to clarify important dates for investors and stakeholders looking for financial updates on the company's performance.

TransAlta Corporation (NYSE: TAC) has unveiled a new visual identity, including a logo and tagline, aligning with its commitment to a carbon-neutral future. This rebranding marks 111 years since its inception in Calgary. The company operates a diversified generation portfolio of wind, solar, hydro, and gas across Canada, the U.S., and Australia. CEO John Kousinioris emphasized the significance of this change as it reflects the company's investments in reducing carbon emissions and enhancing renewable energy projects.

TransAlta Corporation (NYSE: TAC) announced that 1,044,299 of its 11,000,000 Series C Preferred Shares will convert into Series D Preferred Shares, effective June 30, 2022. Post conversion, 9,955,701 Series C and 1,044,299 Series D Shares will be outstanding. Series C Shares will maintain a fixed dividend rate of 5.854%, while Series D Shares will start at a floating rate of 4.577%. Both share classes will continue trading on the TSX under their respective symbols, with the Series D Shares beginning on June 30, 2022.

TransAlta Corporation (TAC) announced that the Alberta Court of Appeal has upheld a previous arbitration decision in its favor regarding a force majeure claim. The Court dismissed an application by ENMAX Energy Corporation and the Balancing Pool that sought to overturn the arbitration ruling. This decision confirms that TransAlta is not liable for approximately $167.6 million in availability incentive payments related to the Keephills 1 generating unit incident in 2013.

TransAlta Corporation (TAC) announced that it will not redeem its Series C preferred shares on June 30, 2022. Instead, holders can convert their Series C shares into Series D shares on a one-for-one basis. The annual dividend for Series C will be reset to 5.854% for the next five years. Series D shares will have a quarterly floating rate of 4.577% starting June 30, 2022, adjusted every quarter. Currently, there are 11 million Series C shares outstanding, and the Toronto Stock Exchange has conditionally approved the listing of Series D shares.

TransAlta Corporation (TSX: TA, NYSE: TAC) announced that the Toronto Stock Exchange has accepted its notice to implement a normal course issuer bid (NCIB) for up to 14,000,000 common shares, approximately 7.16% of its public float. The NCIB will commence on May 31, 2022, and end on May 30, 2023. Under this program, TransAlta aims to enhance shareholder value by repurchasing shares when the market price does not reflect their underlying value. The company has previously repurchased 1.4 million shares at an average price of $12.45 under its prior NCIB.

TransAlta reported Q1 2022 financial results, highlighting an adjusted EBITDA of $266 million, down 14% from 2021. Notably, net earnings improved to $186 million or $0.69 per share, compared to a loss of $0.11 last year. Cash flow from operations reached $451 million, up $194 million year-over-year. The company secured long-term Power Purchase Agreements with Meta and Amazon, expanding its renewable portfolio. Challenges included a decrease in gross margin for the Alberta electricity portfolio and increased costs related to the Kent Hills wind facilities rehabilitation.

TransAlta Corporation (TAC) held its Annual and Special Meeting of Shareholders on April 28, 2022, with 69.60% of common shares represented. All twelve director nominees were elected, with the highest votes for John P. Dielwart at 99.67%. Ernst & Young LLP was appointed as auditors for 2022, receiving 96.24% approval. The advisory vote on executive compensation passed with 87.88% support. Additionally, the shareholder rights plan was approved with 96.13% of votes in favor, reflecting strong shareholder backing for management's proposals.