TransAlta Co. (NYSE:TAC) Plans Quarterly Dividend of $0.04

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 given a dividend of 0.044 per share by the utilities provider on Tuesday, October 1st. This represents a $0.18 annualized dividend and a yield of 2.37%. The ex-dividend date is Friday, August 30th. This is a boost from TransAlta’s previous quarterly dividend of $0.04.

TransAlta has increased its dividend payment by an average of 8.6% annually over the last three years. TransAlta has a dividend payout ratio of 64.3% indicating that 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 Price Performance

NYSE:TAC opened at $7.43 on Wednesday. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 4.75 and a beta of 0.89. TransAlta has a 1 year low of $5.94 and a 1 year high of $10.40. The business has a 50 day simple moving average of $7.11 and a 200-day simple moving average of $6.93. The company has a debt-to-equity ratio of 2.95, a current ratio of 0.69 and a quick ratio of 0.62.

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

About TransAlta

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.