TransAlta Will Not Cut Dividend

"Since September of '96, since I've been with this company, we've made a commitment to hold our dividend and that hasn't changed," CEO Steve Snyder told analysts in a conference call. "It's clearly a board decision, but I can say the board certainly remains fully committed to that."

TransAlta, Canada's top investor-owned generating firm, factors the dividend into all its acquisitions and operations as a priority, Snyder said.

Dearborn, Michigan-based CMS Energy Corp. said it suspended its dividend to save cash after being battered by credit problems and the collapse of the power trading business.

TransAlta currently pays CAN$1 a share annually.