TransAlta Announces Dividend Rates on Series G Preferred Shares and Series H Preferred Shares
September 03 2024 - 5:00PM
Further to the news release of TransAlta Corporation (“TransAlta”
or the “Company”) (TSX: TA; NYSE: TAC) dated August 22, 2024, the
Company announced today the applicable dividend rates for its
cumulative redeemable rate reset first preferred shares Series G
(“Series G Shares”) (TSX: TA.PR.J) and cumulative redeemable
floating rate first preferred shares Series H of the Company
(“Series H Shares”).
With respect to any Series G Shares that remain
outstanding after September 30, 2024, holders thereof will be
entitled to receive quarterly fixed cumulative preferential cash
dividends, if, as and when declared by the Board of Directors of
TransAlta. The annual dividend rate for the Series G Shares for the
five-year period from and including September 30, 2024, to but
excluding September 30, 2029, will be 6.77300%, being equal to the
five-year Government of Canada bond yield of 2.97300% determined as
of today plus 3.80000%, in accordance with the terms of the Series
G Shares.
With respect to any Series H Shares that may be
issued on September 30, 2024, holders thereof will be entitled to
receive quarterly floating rate cumulative preferential cash
dividends, if, as and when declared by the Board of Directors of
TransAlta. The annual dividend rate for the 3-month floating rate
period from and including September 30, 2024, to but excluding
December 31, 2024, will be 8.00500%, being equal to the annual rate
for the most recent auction of 90-day Government of Canada Treasury
Bills of 4.20500% plus 3.80000%, in accordance with the terms of
the Series H Shares (the “Floating Quarterly Dividend Rate”). The
Floating Quarterly Dividend Rate will be reset every quarter.
Beneficial owners of Series G Shares who wish to
exercise their conversion right should communicate with their
broker or other intermediary promptly to ensure their instructions
are followed so that the registered holder of the Series G Shares
can meet the deadline to exercise such conversion right, which is
3:00 p.m. (MDT) / 5:00 p.m. (EDT) on September 16, 2024.
About TransAlta Corporation:
TransAlta owns, operates and develops a diverse
fleet of electrical power generation assets in Canada, the United
States and Australia with a focus on long-term shareholder value.
TransAlta provides municipalities, medium and large industries,
businesses and utility customers with affordable, energy efficient
and reliable power. Today, TransAlta is one of Canada’s largest
producers of wind power and Alberta’s largest producer of
hydro-electric power. For over 113 years, TransAlta has been a
responsible operator and a proud member of the communities where we
operate and where our employees work and live. TransAlta aligns its
corporate goals with the UN Sustainable Development Goals and the
Future-Fit Business Benchmark, which also defines sustainable goals
for businesses. Our reporting on climate change management has been
guided by the International Financial Reporting Standards (IFRS) S2
Climate-related Disclosures Standard and the Task Force on
Climate-related Financial Disclosures (TCFD) recommendations.
TransAlta has achieved a 66 per cent reduction in GHG emissions or
21.3 million tonnes CO2e since 2015 and received an upgraded MSCI
ESG rating of AA.
For more information about TransAlta, visit our
web site at transalta.com.
Forward Looking Information
This news release contains certain information
that is forward-looking and is subject to important risks and
uncertainties (such statements are usually accompanied by words
such as “may”, “will”, “should”, “estimate”, “intend” or other
similar words). Specifically, this news release contains
forward-looking information with respect to the Company, the Series
G Shares and the Series H Shares, including but not limited to the
listing of the Series H Shares and the payment of dividends on the
Series G Shares and Series H Shares. All forward-looking
information reflects the Company’s beliefs and assumptions based on
information available at the time the statements were made and as
such are not guarantees of future performance. Readers are
cautioned not to place undue reliance on this forward-looking
information, which is given as of the date it is expressed in this
news release. TransAlta undertakes no obligation to update or
revise any forward-looking information except as required by law.
For additional information on the assumptions made, and the risks
and uncertainties which could cause actual results to differ from
those in the forward-looking information, refer to the Company’s
most recent Annual Information Form, Annual Report and Management’s
Discussion and Analysis and the Prospectus Supplement dated August
8, 2014, in each case filed under the Company’s profile on SEDAR at
www.sedarplus.com.
For more information:
Investor
Inquiries: |
Media
Inquiries: |
Phone: 1-800-387-3598 in
Canada and US |
Phone: 1-855-255-9184 |
Email:
investor_relations@transalta.com |
Email:
ta_media_relations@transalta.com |
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