TransAlta (TSE:TA) has released an update.
TransAlta Corporation has announced the acceptance by the Toronto Stock Exchange of its plan to repurchase up to 14 million of its own shares, about 4.6% of its total outstanding shares, with the buyback period extending from May 31, 2024, to May 30, 2025. The repurchase strategy is seen as a way to potentially enhance shareholder value, as the Board believes the market price may not fully reflect the underlying value of the shares. Previously, TransAlta bought back 8.56 million shares at an average price of $9.50 under a similar program.
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