Key Developments: TransAlta Corp (TAC)
15.03USD
21 May 2013
$-0.33 (-2.15%)
$15.02
$15.18
$15.18
$14.93
102,421
102,010
$17.50
$13.12
Latest Key Developments (Source: Significant Developments)
Transalta Corp Declares Dividends
Transalta Corp announced that Board of Directors declared a quarterly dividend of $0.29 per share on common shares payable on July 1, 2013 to shareholders of record at the close of business May 31, 2013. The Board of Directors of TransAlta Corporation also declared a quarterly dividend of $0.2875 per share on TransAlta's issued and outstanding Cumulative Redeemable Rate Reset First Preferred Shares, Series A, payable on June 30, 2013 to shareholders of record at the close of business May 31, 2013. The Board of Directors of TransAlta Corporation also declared a quarterly dividend of $0.2875 per share on TransAlta's issued and outstanding Cumulative Redeemable Rate Reset First Preferred Shares, Series C, payable on June 30, 2013 to shareholders of record at the close of business May 31, 2013. The Board of Directors of TransAlta Corporation also declared a quarterly dividend of $0.3125 per share on TransAlta's issued and outstanding Cumulative Redeemable Rate Reset First Preferred Shares, Series E, payable on June 30, 2013 to shareholders of record at the close of business May 31, 2013. Full Article
Transalta Corp Declares Dividends
Transalta Corp announced that it declared a quarterly dividend of $0.29 per share on common shares payable on April 1, 2013 to shareholders of record at the close of business March 1, 2013. The Board of Directors of TransAlta Corporation also declared a quarterly dividend of $0.2875 per share on TransAlta's issued and outstanding Cumulative Redeemable Rate Reset First Preferred Shares, Series A, payable on March 31, 2013 to shareholders of record at the close of business March 1, 2013. The Board of Directors of TransAlta Corporation also declared a quarterly dividend of $0.2875 per share on TransAlta's issued and outstanding Cumulative Redeemable Rate Reset First Preferred Shares, Series C, payable on March 31, 2013 to shareholders of record at the close of business March 1, 2013. The Board of Directors of TransAlta Corporation also declared a quarterly dividend of $0.3125 per share on TransAlta's issued and outstanding Cumulative Redeemable Rate Reset First Preferred Shares, Series E, payable on March 31, 2013 to shareholders of record at the close of business March 1, 2013. Full Article
Transalta Corp Pricing of USD400 Million Senior Notes Offering
Transalta Corp announced that it has agreed to issue and sell USD400 million in aggregate principal amount of 4.500% senior notes due 2022 at an issue price equal to 98.266% of the principal amount of the notes. TransAlta will use the net proceeds from the sale of the notes to repay borrowings under existing credit facilities and for general corporate purposes. The offering of the notes was made under TransAlta's USD1.0 billion base shelf registration statement that was effective November 19, 2010. Full Article
Transalta Corp Announces Reposition For Strategic Growth
Transalta Corp announced that as part of ongoing strategy to continuously improve operational and accelerate the growth of the Company, that it is realigning the talent of the organization. These actions will result in a net reduction of approximately 165 positions over the next six months, the majority of which will be from the Calgary office. Full Article
Transalta Corp Announces Strategic Partnership With Midamerican Energy Holdings Co
Transalta Corp and Midamerican Energy Holdings Co announced that the creation of a new strategic partnership through which the two companies will work together to develop, build and operate new natural gas-fired electricity generation projects in Canada. The agreement encompasses all new natural gas-fueled generation opportunities considered by either TransAlta or MidAmerican in Canada, including TransAlta's proposed Sundance 7 project, an up to 800-megawatt project based in Alberta, Canada. All development and construction or acquisition of approved projects will be funded on a 50-50 basis, and TransAlta will be responsible for construction management, operation and maintenance of projects that proceed. Full Article
Transalta Corp Declares Dividends
Transalta Corp announced that it has declared a quarterly dividend of $0.29 per share on common shares payable on January 1, 2013 to shareholders of record at the close of business November 30, 2012. Full Article
Transalta Corp Completes Acquisition Of Solomon Power Station
Transalta Corp announced that through subsidiaries, it has successfully completed the acquisition of the Solomon power station for USD318 million. Full Article
Transalta Corp Closes CAD275 Million Sale Of Common Shares
Transalta Corp announced that it has completed public offering of 19,250,000 Common Shares at a price of $14.30 per Common Share. TransAlta has granted the underwriters an over-allotment option to purchase up to an additional 2,887,500 Common Shares at the same price, exercisable in whole or in part at any time for 30 days following closing of the offering. The over-allotment option will be used to cover over-allocations, if any, and for market stabilization purposes. The offering, previously announced on September 4, 2012, resulted in gross proceeds to TransAlta of approximately CAD275 million. The net proceeds from the offering will be used to fund future growth capital expenditures, including to partially fund the previously announced acquisition of the Solomon power station if completed, repay short term indebtedness, and for general corporate purposes. The Common Shares were offered through a syndicate of underwriters led by CIBC and RBC Capital Markets, and including Scotiabank, TD Securities Inc., BMO Capital Markets, National Bank Financial Inc., Bank of America Merrill Lynch, HSBC Securities (Canada) Inc., Canaccord Genuity Corp. and Desjardins Securities Inc., by way of a prospectus supplement to TransAlta's short form base shelf prospectus dated November 15, 2011. Full Article
Fortescue Metals Group Ltd Sells Power Station To TransAlta Corp ; Buys Power From Subsidiary-Reuters
Reuters reported that Fortescue Metals Group Ltd has agreed to sell a power station for $300 million. As part of the deal with a subsidiary of Canada's TransAlta Corp, Fortescue will purchase power from the station for its Solomon mine for 16 years, with rights to extend the agreement. Full Article
Transalta Corp Arranges $275 Million Offering-Canada Stockwatch News
Canada Stockwatch News reported that TransAlta Corp. is commencing an offering of 19.25 million of its common shares. The expected offering price of $14.30 per common share will result in gross proceeds to TransAlta of approximately $275-million. TransAlta has granted the underwriters an overallotment option to purchase up to an additional 2,887,500 of its common shares at the same price, exercisable in whole or in part at any time for 30 days following closing of the offering. Gross proceeds to TransAlta if the overallotment option is exercised in full are expected to be approximately $317-million. Proceeds from the offering will be used to finance future growth capital expenditures, including to partially finance the acquisition of the Solomon power station; to repay short-term debt; and for general corporate purposes. The completion of the offering is not contingent on the closing of the acquisition of the Solomon power station. If the acquisition does not close, proceeds from the offering will be used to finance future growth capital expenditures, to repay short-term debt and for general corporate purposes. Full Article
UPDATE 1-TransAlta posts loss on pension funding
April 23 - Canadian power generation company TransAlta Corp reported a first-quarter loss, hurt in part by a one-time charge related to pension funding obligations.
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
