CALGARY - TransAlta Corporation (NYSE:TAC), a leading electric services company, announced today the results of its Series G and Series H preferred share conversions. The company, listed under the standard industrial classification of electric services, disclosed the update in a Form 6-K report filed with the United States Securities and Exchange Commission.
The conversion details pertain to the company's preferred shares, which are a specific class of ownership in a corporation with a higher claim on assets and earnings than common stock. Preferred shares typically provide dividends before dividends are issued to common shareholders.
According to the filing, TransAlta has completed the conversion process, although the document did not specify the number of shares converted or the terms of conversion. This information is critical for investors as it affects the dividend payout and the potential return on investment for preferred shareholders.
The SEC filing by TransAlta was signed by Joel Hunter, the Executive Vice President Finance and Chief Financial Officer, confirming the company's compliance with the regulatory requirements of the Securities Exchange Act of 1934.
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