TransAlta Declares New Dividend Rates for Preferred Shares
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TransAlta Announces Dividend Rates for Preferred Shares
TransAlta Corporation continues to demonstrate its commitment to shareholders with the announcement of its new dividend rates on Series G and Series H preferred shares. These updates reflect the company’s ongoing dedication to providing value and stability to its investors.
Details on Series G Preferred Shares
The Series G Shares will see fixed cumulative cash dividends for holders remaining after a specified date. Starting from September 30, 2024, the annual dividend rate is set at 6.77300%. This figure arises from the current Government of Canada bond yield of 2.97300%, augmented by a margin of 3.80000%, as outlined in the governing terms of the Series G Shares.
Quarterly Dividend Payments
The dividends for the Series G Shares will be declared quarterly, providing a consistent income stream for investors. Shareholders planning to exercise their conversion rights should liaise with their brokers promptly to meet the deadlines set forth by the company.
Update on Series H Preferred Shares
In conjunction, the Series H Shares will be offered a floating rate dividend structure. As such, for shares issued on September 30, 2024, the dividend will be adjusted quarterly based on recent Government securities auctions. For the upcoming rate period, which lasts from September 30, 2024, to December 31, 2024, the estimated dividend is projected at 8.00500%. This is derived from the latest 90-day Government of Canada Treasury Bills rate of 4.20500%, plus an additional 3.80000%.
Floating Rate Structure Benefits
The flexibility of floating rate dividends allows Series H shareholders to potentially benefit from rising interest rates and lower financing costs, aligning dividends more closely with current market conditions.
Commitment to Sustainable Development
TransAlta Corporation stands as a leader in energy production, particularly in wind and hydro-electric power in Canada. This commitment is not merely about returns; it is also about corporate responsibility. For over a century, TransAlta has strived to align its operational objectives with sustainable practices.
Reducing Environmental Impact
Significantly, TransAlta has achieved a 66% reduction in greenhouse gas emissions since 2015, equating to 21.3 million tonnes of CO2e. Such milestones highlight the company's dedication to the environment while bolstering its reputation on international platforms.
Available Investor and Media Support
Investors and media representatives can contact TransAlta easily through dedicated lines. For inquiries, investors can reach out at 1-800-387-3598 in Canada and the US, or via email at investor_relations@transalta.com. Media questions can be directed to 1-855-255-9184 or ta_media_relations@transalta.com.
Frequently Asked Questions
What are the new dividend rates announced by TransAlta?
The Series G Shares have an annual dividend of 6.77300%, while the Series H Shares will have a floating rate of 8.00500% for the next period.
When are the dividends for Series G and H Shares paid?
The dividends for both Series G and H Shares will be declared quarterly, offering regular income to shareholders.
How can I convert my Series G Shares?
Holders wishing to convert their Series G Shares should contact their brokers promptly before the specified deadline.
What is TransAlta's approach to environmental sustainability?
TransAlta is committed to reducing its GHG emissions, achieving a 66% reduction since 2015, and integrates its goals with sustainable development practices.
How can I contact TransAlta for more information?
Investors can reach out through dedicated phone lines or email for inquiries about their investment and the company's operations.
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