TransAlta Corporation (NYSE:TAC) Shares to Pay Quarterly Dividend of C$0.07

TransAlta Corporation (NYSE:TAC) (TSE:TA) announced a quarterly dividend on Tuesday, October 27th. Stockholders of record on Tuesday, December 1st will be paid a dividend of C$0.07 per share by the utilities provider on Friday, January 1st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, December 1st.

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. Research analysts expect TransAlta to earn $0.39 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 51.3%.

TransAlta Price Performance

Shares of TAC traded down $0.01 during trading hours on Wednesday, hitting $12.86. The stock had a trading volume of 22,178 shares, compared to its average volume of 1,612,135. The stock has a fifty day moving average price of $12.35 and a 200 day moving average price of $12.92. TransAlta has a 12 month low of $11.38 and a 12 month high of $17.88. The firm has a market capitalization of $4.07 billion, a PE ratio of -71.25 and a beta of 0.75.

TransAlta (NYSE:TAC) (TSE:TA) last issued its quarterly earnings data on Friday, July 31st. The utilities provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $342.85 million during the quarter, compared to analysts’ expectations of $379.54 million. As a group, analysts anticipate that TransAlta will post 0.21 EPS for the current fiscal year.

TransAlta Company Profile

TransAlta Corporation is a Canada-based power generation and wholesale marketing company headquartered in Calgary, Alberta. The company develops, owns and operates a diversified portfolio of electricity-generating facilities, including hydroelectric, wind, solar, natural gas and coal-fired power assets.

TransAlta supplies electricity to utilities, commercial and industrial customers, and wholesale markets. Its activities include power generation, energy marketing, asset management and the development of renewable energy projects.