January 15, 2016 / 5:23 PM / in 2 years

BUZZ-TransAlta Corp: Record low after dividend cut

** Canadian power company’s shares hit record low of C$3.75 after slashing annual dividend, suspending premium dividend

** BMO Capital Markets downgrades to “market perform” from “outperform” and cuts PT to C$5 from C$8; National Bank Financial cuts to C$4.50 from C$5

** Move comes as TransAlta is trying to raise cash as it shifts to clean energy from coal

** Cuts annual dividend by nearly 78 pct to 16 Canadian cents

** 8 of 10 brokerages covering the stock rate it “hold”; 1 “sell” and 1 “buy”; median PT C$7

** Company’s stock had halved in 2015

0 : 0
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