TransAlta Stock To Go Ex-dividend Tomorrow (TAC)

NEW YORK ( TheStreet) -- The ex-dividend date for TransAlta Corporation (NYSE: TAC) is tomorrow, May 30, 2012. Owners of shares as of market close today will be eligible for a dividend of 29 cents per share. At a price of $17.05 as of 9:30 a.m. ET, the dividend yield is 7%.

The average volume for TransAlta has been 126,200 shares per day over the past 30 days. TransAlta has a market cap of $3.78 billion and is part of the utilities sector and utilities industry. Shares are down 18.3% year to date as of the close of trading on Friday.

TransAlta Corporation operates as a non-regulated electricity generation and energy marketing company. The company engages in the production and sale of electric energy through its diversified portfolio of facilities fuelled by coal, natural gas, hydroelectric, wind, and geothermal resources. The company has a P/E ratio of 21.3, above the average utilities industry P/E ratio of 21.1 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates TransAlta as a hold. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally poor debt management and disappointing return on equity. You can view the full TransAlta Ratings Report.

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