TransAlta Corporation (TAC) to Issue Quarterly Dividend of C$0.07 on July 1st

TransAlta Corporation (NYSE:TAC) (TSE:TA) declared a quarterly dividend on Wednesday, February 25th. Stockholders of record on Monday, June 1st will be given a dividend of 0.07 per share by the utilities provider on Wednesday, July 1st. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, June 1st. This is a 7.7% increase from TransAlta’s previous quarterly dividend of $0.07.

TransAlta has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 2 consecutive years. TransAlta has a dividend payout ratio of 117.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect TransAlta to earn $0.45 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 44.4%.

TransAlta Stock Performance

Shares of TAC opened at $14.25 on Friday. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of -26.38 and a beta of 0.66. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 6.61. The firm has a fifty day simple moving average of $13.03 and a 200 day simple moving average of $13.20. TransAlta has a 12 month low of $9.52 and a 12 month high of $17.88.

TransAlta (NYSE:TAC) (TSE:TA) last announced its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. The firm had revenue of $406.19 million during the quarter, compared to analysts’ expectations of $436.36 million. TransAlta had a negative net margin of 9.46% and a positive return on equity of 9.52%. Research analysts forecast that TransAlta will post 0.26 EPS for the current fiscal year.

TransAlta Company Profile

TransAlta Corporation, originally founded in 1909 as Calgary Power Company Ltd., is a publicly traded energy company specializing in the development, ownership and operation of power generation and transmission assets. Headquartered in Calgary, Alberta, TransAlta has grown from its early hydroelectric roots into a diversified energy provider with a multi-fuel generating fleet.

The company’s core business activities encompass power generation, asset management and energy trading services.