TransAlta Renewables Inc.

TransAlta Renewables Inc.

April 28, 2016 16:19 ET

TransAlta Renewables Inc. declares dividends and reports on voting results from the 2016 Annual Meeting of Shareholders

CALGARY, ALBERTA--(Marketwired - April 28, 2016) - The Board of Directors of TransAlta Renewables Inc. ("TransAlta Renewables" or the "Company") (TSX:RNW) today declared monthly dividends of $0.07333 per share for holders of record on June 1, 2016, July 4, 2016 and August 2, 2016 payable on each of June 30, 2016, July 29, 2016 and August 31, 2016, respectively.

In addition, the Annual Meeting of Shareholders (the "Meeting") of TransAlta Renewables was held on April 28, 2016 in Calgary, Alberta. A total of 185,059,164 common and class B shares, representing 73.96% of the Company's outstanding voting shares, were represented in person and by proxy at the Meeting.

The following resolutions were approved by shareholders:

1. Election of Directors

The six director nominees were elected by a show of hands. Proxies were received as follows:

Nominee Votes For Percent Withheld Percent
David W. Drinkwater 184,058,221 99.46% 996,943 0.54%
Brett M. Gellner 172,451,600 93.19% 12,603,564 6.81%
Allen R. Hagerman 184,069,160 99.47% 986,004 0.53%
Cynthia Johnston 173,097,064 93.54% 11,958,100 6.46%
Kathryn B. McQuade 184,786,742 99.85% 268,422 0.15%
Paul H.E. Taylor 172,369,563 93.14% 12,685,601 6.86%

2. Appointment of Auditors

The Appointment of Ernst & Young LLP to serve as the independent auditors for 2016 was approved by a show of hands. Proxies were received as follows:

Votes For Percent Withheld Percent
184,374,612 99.63% 680,552 0.37%

All currency is expressed in Canadian dollars.

About TransAlta Renewables Inc.

TransAlta Renewables is among the largest of any publicly traded renewable independent power producers ("IPP") in Canada. Our asset platform and economic interests are diversified in terms of geography, generation and counterparties and consists of interests in 18 wind facilities, 13 hydroelectric facilities, eight natural gas generation facilities (including one currently under construction) and one natural gas pipeline, representing an ownership interest of 2,441 MW of net generating capacity, located in the provinces of British Columbia, Alberta, Ontario, Québec, New Brunswick, the State of Wyoming and the State of Western Australia. Our objectives are to (i) create stable, consistent returns for investors through the ownership of, and investment in, highly contracted renewable and natural gas power generation and other infrastructure assets that provide stable cash flow primarily through long-term contracts with strong counterparties; (ii) pursue and capitalize on strategic growth opportunities in the renewable and natural gas power generation and other infrastructure sectors; (iii) maintain diversity in terms of geography, generation and counterparties; and (iv) pay out 80 to 85 per cent of cash available for distribution to the shareholders of the Company on an annual basis.

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