TransAlta Corporation (NYSE:TAC – Get Free Report) (TSE:TA) declared a quarterly dividend on Friday, December 12th. Stockholders of record on Sunday, March 1st will be given a dividend of 0.065 per share by the utilities provider on Wednesday, April 1st. This represents a c) dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, February 27th.
TransAlta has decreased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 2 years. TransAlta has a payout ratio of 105.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect TransAlta to earn $0.44 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 40.9%.
TransAlta Price Performance
TAC traded down $0.08 during trading on Wednesday, hitting $12.97. The company’s stock had a trading volume of 109,651 shares, compared to its average volume of 1,473,344. The company has a quick ratio of 0.71, a current ratio of 0.79 and a debt-to-equity ratio of 5.22. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of -26.90 and a beta of 0.78. The firm’s 50 day moving average price is $12.87 and its two-hundred day moving average price is $13.77. TransAlta has a 12 month low of $7.82 and a 12 month high of $17.88.
About TransAlta
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.
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