TransAlta Co. (TAC) To Go Ex-Dividend on August 30th

TransAlta Co. (NYSE:TAC) (TSE:TA) declared a quarterly dividend on Monday, July 29th, Zacks reports. Shareholders of record on Sunday, September 1st will be paid a dividend of 0.044 per share by the utilities provider on Tuesday, October 1st. This represents a $0.18 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, August 30th. This is a positive change from TransAlta’s previous quarterly dividend of $0.04.

TransAlta has raised its dividend payment by an average of 8.6% per year over the last three years. TransAlta has a payout ratio of 64.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect TransAlta to earn $0.54 per share next year, which means the company should continue to be able to cover its $0.18 annual dividend with an expected future payout ratio of 33.3%.

TransAlta Stock Performance

Shares of TAC traded up $0.02 during mid-day trading on Wednesday, hitting $7.38. 48,183 shares of the company’s stock were exchanged, compared to its average volume of 735,670. TransAlta has a fifty-two week low of $5.94 and a fifty-two week high of $10.40. The firm has a market capitalization of $2.22 billion, a P/E ratio of 4.75 and a beta of 0.89. The business’s 50 day moving average is $7.11 and its two-hundred day moving average is $6.93. The company has a current ratio of 0.69, a quick ratio of 0.62 and a debt-to-equity ratio of 2.95.

TransAlta (NYSE:TAC) (TSE:TA) last announced its earnings results on Friday, May 3rd. The utilities provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.40. TransAlta had a net margin of 18.70% and a return on equity of 45.47%. The business had revenue of $702.47 million during the quarter. On average, equities analysts expect that TransAlta will post 0.74 earnings per share for the current year.

TransAlta Company Profile

TransAlta Corporation engages in the development, production, and sale of electric energy. It operates through Hydro, Wind and Solar, Gas, Energy Transition, and Energy Marketing segments. The Hydro segment holds interest of approximately 922 megawatts (MW) of owned hydroelectric generating capacity located in Alberta, British Columbia, and Ontario.