Correction Notice to Press Release Regarding Dividend Amount on Preferred Shares, Series B

Rhea-AI Summary

TransAlta Corporation (TSX: TA, NYSE: TAC) issued a correction regarding the dividend on its Cumulative Redeemable Rate Reset First Preferred Shares, Series B. The previously announced amount of $0.53236 was incorrect; the actual dividend payable on March 31, 2022, to shareholders of record on March 1, 2022, is $0.13309 per share. All figures are in Canadian dollars. This correction is vital for investors to acknowledge for accurate financial planning.

Positive

• None.

Negative

• The dividend was misstated in the previous announcement, which could lead to confusion among shareholders regarding expected income.

CALGARY, AB, Dec. 14, 2021 /PRNewswire/ - TransAlta Corporation (TSX: TA) (NYSE: TAC) announced today a correction to its press release issued December 13, 2021 in respect of the dividend amount declared on its Cumulative Redeemable Rate Reset First Preferred Shares, Series B (the "Series B shares"). In the press release, the dividend amount payable on March 31, 2022 to shareholders of record on March 1, 2022 was misstated as $0.53236 per Series B share.  The correct amount is $0.13309 per Series B share. 

All currency is expressed in Canadian dollars.   

About TransAlta Corporation:

TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value. TransAlta provides municipalities, medium and large industries, businesses and utility customers clean, affordable, energy efficient, and reliable power. Today, TransAlta is one of Canada's largest producers of wind power and Alberta's largest producer of hydroelectric power. For over 100 years, TransAlta has been a responsible operator and a proud community-member where its employees work and live. TransAlta aligns its corporate goals with the UN Sustainable Development Goals.

For more information about TransAlta, visit our web site at transalta.com.

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SOURCE TransAlta Corporation

FAQ

What is the corrected dividend amount for TransAlta's Series B shares?

The corrected dividend amount is $0.13309 per Series B share.

When is the dividend payment date for TransAlta's Series B shares?

The dividend payment date is March 31, 2022.

Who are the shareholders eligible for the dividend of TransAlta's Series B shares?

Shareholders of record on March 1, 2022, will be eligible for the dividend.

Why was the dividend amount corrected for TransAlta's Series B shares?

The correction was made because the previously announced dividend of $0.53236 was misstated.

How does the dividend impact TransAlta's shareholders?

The corrected dividend amount is significantly lower than initially stated, which may affect shareholder income expectations.