08:30 AM EST, 02/20/2025 (MT Newswires) -- TransAlta ( TAC ) on Thursday said its fourth-quarter loss narrowed on higher revenue as it boosted its dividend by 8% and issued 2025 guidance.

The power company said it lost $65 million, or $0.22 per share, in the period, compared with a loss of $84 million, or $0.27, in the year-prior quarter. The FactSet consensus estimate for the quarter expected a loss of $0.19 per share.

Revenue rose 8.7% to $678 million from $624 million as the company generated 6,199 gigawatt hours of electricity in the quarter, up 7.2% from the fourth quarter of 2023 as it added new facilities.

"During the year, we added 2.2 GW of generation to our fleet, with three contracted wind facilities achieving commercial operation in addition to the acquisition of Heartland Generation. We also returned $214 million, or $0.71 per share, of value to shareholders through dividends and share repurchases," Chief Executive John Kousinioris said in a statement.

TransAlta ( TAC ) said it expects 2025 free cash flow to come in between $450 million and $550 million, down from the $569 million of free cash flow it produced in 2024, while its guidance for this year's adjusted EBITDA is seen running between $1.15 billion and $1.25 billion, from $1.25 billion last year..

The company also said it is hiking its quarterly dividend by $0.02, or 8%, to $0.065 per share, or $0.26 annualized, with the first higher payout made on July 1 to shareholders of record on June 1.

TransAlta ( TAC ) shares closed down $0.04 to $14.99 Wednesday on the Toronto Stock Exchange.