TransAlta Corporation - TAC STOCK NEWS

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.

TransAlta Corporation (TSX: TA; NYSE: TAC) has initiated a public offering of senior notes in the U.S. to raise net proceeds aimed at repaying C$100 million drawn from its credit facility. The funds will also repay its 4.500% unsecured senior notes due on November 15, 2022, and cover associated fees. Additionally, the offering aims to finance eligible green projects under its newly established Green Bond Framework, endorsed by Sustainalytics. The timing and specifics of the offering will depend on market conditions.

TransAlta Corporation (NYSE: TAC) has declared a quarterly dividend of $0.055 per common share, payable on January 1, 2023, to shareholders of record by the close of business on December 1, 2022. Additionally, the Board announced dividends for Cumulative Redeemable Rate Reset First Preferred Shares, including Series A at 2.877% ($0.17981), Series B at 5.348% ($0.33700), and Series C at 5.854% ($0.36588), all with the same payment schedule. All amounts are in Canadian dollars.

TransAlta Corporation reported a robust third quarter for 2022, highlighting an Adjusted EBITDA of $555 million, a 38% increase year-over-year. The company achieved Free Cash Flow of $393 million or $1.45 per share, representing an 88% rise in per-share value. The firm recorded net earnings of $61 million compared to a loss of $456 million in the previous year. Furthermore, a 10% increase in the annual common share dividend to $0.22 was approved, effective January 1, 2023. TransAlta also expanded its development pipeline by 553 MW across North America.

TransAlta Corporation (TAC) will announce its third quarter 2022 results on November 8, 2022, before market opening. A conference call for stakeholders is scheduled for the same day at 9:00 a.m. MT (11:00 a.m. ET). TransAlta Renewables will report its third quarter results on November 4, 2022, with relevant inquiries addressed in the main conference call. TransAlta positions itself as a leading power generator in Canada, focusing on sustainability, with a notable 61% reduction in GHG emissions since 2015.

TransAlta Corporation announced that only 89,945 of the Cumulative Redeemable Rate Reset Preferred Shares, Series E were tendered for conversion into Series F Shares, falling short of the one million required for conversion. Consequently, no Series E Shares will convert on September 30, 2022. TransAlta operates a diversified fleet of electricity generation assets across Canada, the U.S., and Australia, prioritizing long-term shareholder value and having achieved a 61% reduction in GHG emissions since 2015.

On August 31, 2022, TransAlta Corporation announced it will not redeem its Series E preferred shares on September 30, 2022. Holders can convert Series E Shares into Series F Shares at a one-for-one basis on the Conversion Date. The Series E Shares will yield a 6.894% annual dividend from September 30, 2022, to September 30, 2027. A dividend of $0.32463 is payable to Series E holders on September 30, 2022. TransAlta plans to maintain shareholder value while offering flexible conversion options for preferred shares.

TransAlta Corporation reported its Q2 2022 financial results, revealing an Adjusted EBITDA of $279 million, a decrease of 13% year-over-year. The Free Cash Flow declined to $145 million or $0.54 per share. The net loss attributable to shareholders was $80 million or $0.30 per share, compared to a loss of $0.04 per share in the previous year. Key developments included a 10-year contract extension for Kent Hills wind facilities, a new long-term PPA with Meta for a 200 MW wind project, and the addition of 325 MW to the renewable development pipeline.