01:55 PM EDT, 03/22/2024 (MT Newswires) -- TransAlta Corp. ( TAC ) said Friday that it has entered into an automatic share purchase plan with its broker to facilitate repurchases of its common shares under its normal course issuer bid.

The company's shares edged up 1.7% on last look on Friday.

The company previously announced that it had received approval from the Toronto Stock Exchange to buy up to 14 million of its common shares during the 12-month period which terminates May 30.

Since the start of the current NCIB on May 31, 2023, TransAlta ( TAC ) has bought 4.1 million shares at a weighted average price of $10.01 each for an aggregate value of $41.4 million.

Since Jan. 1, 2024, the company has acquired 2.7 million common shares at a weighted average price per common share of $9.52 for about $25.8 million.

The automatic share purchase plan will terminate when the maximum purchase limits under the ASPP are reached; or on May 3, or when terminated by the company.

Price: 8.83, Change: +0.14, Percent Change: +1.61