TransAlta Co. (TAC) To Go Ex-Dividend on November 29th

TransAlta Co. (NYSE:TAC) (TSE:TA) announced a quarterly dividend on Wednesday, October 23rd,Zacks Dividends reports. Stockholders of record on Sunday, December 1st will be given a dividend of 0.044 per share by the utilities provider on Wednesday, January 1st. This represents a $0.18 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Friday, November 29th.

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 60.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect TransAlta to earn $0.42 per share next year, which means the company should continue to be able to cover its $0.17 annual dividend with an expected future payout ratio of 40.5%.

TransAlta Stock Up 0.7 %

Shares of NYSE TAC opened at $10.87 on Wednesday. TransAlta has a 52 week low of $5.94 and a 52 week high of $11.10. The stock’s fifty day moving average is $10.33 and its 200 day moving average is $8.61. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.67 and a current ratio of 0.74. The stock has a market capitalization of $3.24 billion, a P/E ratio of 29.38 and a beta of 0.92.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Desjardins reaffirmed a “hold” rating on shares of TransAlta in a report on Wednesday, November 6th. StockNews.com cut TransAlta from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 6th.

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.