Welcome to our dedicated page for TransAlta Corporation news (Ticker: TAC), a resource for investors and traders seeking the latest updates and insights on TransAlta Corporation stock.
TransAlta Corporation (NYSE: TAC, TSX: TA) is a leading independent power producer headquartered in Alberta, Canada. With over 112 years of experience, TransAlta operates a diverse portfolio of power generation assets across Canada, the United States, and Australia. The company's assets include wind, hydro, coal, and natural gas facilities, which collectively provide reliable and sustainable power to millions of customers.
Core Business and Operations
TransAlta's core business revolves around the generation and sale of electricity. The company has six reportable segments: hydro, wind & solar, energy marketing, gas, energy transition, and the corporate segment. The majority of TransAlta's revenue is generated from its gas segment, which continues to be a significant contributor to its financial performance.
Recent Achievements and Projects
TransAlta has been proactive in expanding its operations and enhancing its existing infrastructure. Some of its recent projects include a new pipeline development in Australia and new transmission projects in Alberta. The company has also achieved a 66% reduction in GHG emissions since 2015 and has received an upgraded MSCI ESG rating of AA, underscoring its commitment to sustainability.
Employee Growth and Opportunities
With over 2000 employees in three countries, TransAlta offers numerous opportunities for professional growth. The company is committed to fostering a positive work environment, as evidenced by the high satisfaction rates among its employees. Notably, 92% of new graduates move on to permanent positions, and 98% of new hires would recommend TransAlta to others.
Financial Condition and Shareholder Value
TransAlta maintains a robust financial position, as highlighted by its strong free cash flow. To enhance shareholder returns, the company has implemented a normal course issuer bid (NCIB) and an automatic share purchase plan (ASPP). These initiatives reflect TransAlta's strategic capital allocation and its commitment to long-term shareholder value.
Community and Sustainability
TransAlta is deeply integrated into the communities where it operates. The company aligns its goals with the UN Sustainable Development Goals and the Future-Fit Business Benchmark. Its reporting on climate change management is guided by international standards, including the IFRS S2 Climate-related Disclosures Standard and the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.
For more information about TransAlta, visit their official website at transalta.com.
TransAlta reported strong Q3 2021 results, achieving comparable EBITDA of $381 million, up 49% year-over-year, and free cash flow of $189 million or $0.70 per share, a 79% increase. The Hydro and Alberta Thermal segments contributed significantly, with EBITDA rising by $54 million and $57 million respectively. However, net loss for the quarter amounted to $456 million, driven by asset impairments following project suspensions. The company announced an 11% dividend increase and plans to invest $3 billion in renewable capacity.
TransAlta Corporation (NYSE: TAC) announced its participation in the Powering the World Past Coal event at COP26, where it joined the Powering Past Coal Alliance. TransAlta aims to enhance its renewable capacity by two gigawatts over five years, with significant reductions in greenhouse gas emissions already achieved, down 61% from 2005 levels. By 2030, the company targets a 70% reduction. TransAlta's coal transition includes ending all coal generation in Canada by 2021 and converting substantial capacity to gas-fired generation.
The Board of Directors of TransAlta Corporation (TAC) has declared quarterly dividends on its Cumulative Redeemable Rate Reset First Preferred Shares for the period from September 30, 2021, to December 31, 2021. The dividends include:
- Series A: $0.17981; Dividend Rate: 2.877%
- Series B: $0.13970; Dividend Rate: 2.217%
- Series C: $0.25169; Dividend Rate: 4.027%
- Series E: $0.32463; Dividend Rate: 5.194%
- Series G: $0.31175; Dividend Rate: 4.988%
Record date for all series is December 1, 2021, with payment scheduled for December 31, 2021.
TransAlta Corporation (NYSE: TAC) will announce its third quarter 2021 results on November 9, 2021, before market opening. A conference call for investors and analysts will take place on the same day at 9:00 AM MT (11:00 AM ET). TransAlta Renewables will also present its Q3 results during this call. Interested participants can join via a toll-free number or through a webcast, with related materials available on TransAlta's Investor Centre. This advisory underscores the company's commitment to transparency and shareholder engagement.
TransAlta Corporation (NYSE: TAC) has set ambitious growth targets, aiming for 2 GW of new renewable capacity with a $3 billion investment by 2025. The company plans to accelerate its focus on customer-centered renewables and storage through a 3 GW development pipeline and has approved an 11% increase in its quarterly dividend to $0.05, payable on January 1, 2022. TransAlta is committed to being coal-free by 2025, aiming for a 70% reduction in carbon emissions by 2030 from 2005 levels. However, it has suspended the Sundance Unit 5 repowering due to escalating costs.
TransAlta reported a strong second quarter 2021, achieving comparable EBITDA of $302 million, a 39% increase year-over-year. Free cash flow rose 52% to $138 million or $0.51 per share. Hydro and Alberta Thermal segments led the growth, with EBITDA contributions of $96 million and $85 million, respectively. Adjusted availability decreased to 84.8% due to major maintenance. The company enhanced its 2021 outlook, projecting comparable EBITDA of $1.1 to $1.2 billion and free cash flow of $440 to $515 million.
On August 5, 2021, TransAlta Corporation (TAC) announced a quarterly dividend of $0.0450 per common share, payable on October 1, 2021, to shareholders of record by September 1, 2021. Additionally, dividends for its Cumulative Redeemable Rate Reset First Preferred Shares were declared, with rates and amounts varying by series:
- Series A: $0.17981 (Payment Date: September 30, 2021)
- Series B: $0.13479 (Payment Date: September 30, 2021)
- Series C: $0.25169 (Payment Date: September 30, 2021)
- Series E: $0.32463 (Payment Date: September 30, 2021)
- Series G: $0.31175 (Payment Date: September 30, 2021)
All amounts are in Canadian dollars.
TransAlta Corporation (TAC) has completed the second of three coal-to-gas conversions at its Alberta facilities, reducing CO2 emissions significantly. The $31.5 million conversion of Keephills Unit 2 (KH2) is part of a broader $96 million investment aimed at transitioning to 100% clean electricity by the end of 2021. This project aligns with TransAlta's goal to cut annual greenhouse gas emissions by 60% by 2030. The conversion not only maintains generation capacity but also creates approximately 800 jobs, benefiting the local economy.
TransAlta Corporation (NYSE: TAC) will announce its Q2 2021 results on August 10, 2021, before market opening. A conference call will take place at 9:00 AM MT, allowing investors and media to discuss the results and ask questions. TransAlta Renewables will also present its Q2 2021 results on the same date during this call. Interested parties can join via a toll-free number or through a webcast link provided in the release. TransAlta continues to focus on clean, reliable energy production across Canada, the U.S., and Australia, showcasing its commitment to sustainability.
TransAlta Corporation (NYSE: TAC) announced the successful closing of the sale of the Pioneer Pipeline to ATCO Gas and Pipelines Ltd. for $255 million, with net cash proceeds of approximately $127.5 million. This move supports TransAlta's off-coal transition strategy and ensures reliable gas supply for its power generation units. Additionally, TransAlta has secured long-term gas transportation agreements with NOVA Gas Transmission for new and existing services. This strategic sale highlights TransAlta's commitment to reducing carbon emissions while maintaining efficient energy supply.
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