Preferred Shares (Tables)

12 Months Ended

Dec. 31, 2017

TransAlta is authorized to issue an unlimited number of voting common shares without nominal or par value.



As at Dec. 31	2017			2016
	Common shares (millions)	Amount		Common shares (millions)	Amount
Issued and outstanding, beginning of year	287.9	3,095		284.0	3,077
Issued under the dividend reinvestment and share purchase plan	—	—		3.9	18
	287.9	3,095		287.9	3,095
Amounts receivable under Employee Share Purchase Plan	—	(1	)	—	(1	)
Issued and outstanding, end of year	287.9	3,094		287.9	3,094

All preferred shares issued and outstanding are non-voting cumulative redeemable fixed rate first preferred shares.



As at Dec. 31	2017		2016
Series	Number of shares (millions)	Amount	Number of shares (millions)	Amount
Series A	10.2	248	10.2	248
Series B	1.8	45	1.8	45
Series C	11.0	269	11.0	269
Series E	9.0	219	9.0	219
Series G	6.6	161	6.6	161
Issued and outstanding, end of year	38.6	942	38.6	942

Characteristics specific to each first preferred share series as at Dec. 31, 2017, are as follows:



Series	Rate during term	Annual dividend rate per share ($)	Next Conversion date	Rate spread over Benchmark (per cent)	Convertible to Series
A	Fixed	0.67725	March 31, 2021	2.03	B
B	Floating	0.7255	March 31, 2021	2.03	A
C	Fixed	1.00675	June 30, 2022	3.10	D
D	Floating	—	—	3.10	C
E	Fixed	1.2985	Sept. 30, 2022	3.65	F
F	Floating	—	—	3.65	E
G	Fixed	1.325	Sept. 30, 2019	3.80	H
H	Floating	—	—	3.80	G

The following table summarizes the preferred share dividends declared in 2017, 2016, and 2015: