Avista Corp. Board Increases Common Stock Dividend

Rhea-AI Summary

Avista Corp. (NYSE: AVA) has declared a quarterly dividend of $0.4225 per share, marking a 4.3% increase from the previous dividend. This raises the annualized dividend to $1.69. The dividend is payable on March 15, 2021, to shareholders recorded by February 19, 2021. This is the nineteenth consecutive year the board has raised the dividend, showcasing its commitment to maximizing shareholder value. The decision is made considering financial results and competitive conditions.

Positive

• Quarterly dividend increased by $0.0175 per share (4.3%).
• Nineteenth consecutive year of dividend increases.
• Demonstrates strong commitment to maximizing shareholder value.

Negative

• None.

SPOKANE, Wash., Feb. 04, 2021 (GLOBE NEWSWIRE) -- Avista Corp.’s (NYSE: AVA) board of directors has declared a quarterly dividend of $0.4225 per share on the company’s common stock, an increase of $0.0175 per share (4.3 percent), yielding and annualized dividend of $1.69. The common stock dividend is payable March 15, 2021, to shareholders of record at the close of business on Feb. 19, 2021.

“The dividend increase approved by the board of directors marks the nineteenth consecutive year the board has raised the dividend for our shareholders. I believe it demonstrates the board’s commitment to maximizing shareholder value,” said Avista President and Chief Executive Officer Dennis Vermillion.

The declaration of dividends is at the sole discretion of the board of directors. The board considers the level of dividends on a regular basis, taking into account numerous factors, including financial results, business strategies, and economic and competitive conditions.

About Avista Corp.

Avista Corp. is an energy company involved in the production, transmission and distribution of energy as well as other energy-related businesses. Avista Utilities is the operating division that provides electric service to 397,000 customers and natural gas to 363,000 customers. Its service territory covers 30,000 square miles in eastern Washington, northern Idaho and parts of southern and eastern Oregon, with a population of 1.7 million. Alaska Energy and Resources Company is an Avista subsidiary that provides retail electric service in the city and borough of Juneau, Alaska, through its subsidiary Alaska Electric Light and Power Company. Avista stock is traded under the ticker symbol “AVA.”  For more information about Avista, please visit www.avistacorp.com.

This news release contains forward-looking statements regarding the company’s current expectations. Forward-looking statements are all statements other than historical facts. Such statements speak only as of the date of the news release and are subject to a variety of risks and uncertainties, many of which are beyond the company’s control, which could cause actual results to differ materially from the expectations. These risks and uncertainties include, in addition to those discussed herein, all of the factors discussed in the company’s Annual Report on Form 10-K for the year ended Dec. 31, 2019 and the Quarterly Report on Form 10-Q for the quarter ended Sept. 30, 2020.

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Contact:        
Avista 24/7 Media Line (509) 495-4174
Media: Laurine Jue (509) 495-2510 laurine.jue@avistacorp.com  
Investors: John Wilcox (509) 495-4171 john.wilcox@avistacorp.com

FAQ

What is the new dividend amount for Avista Corp (AVA)?

The new quarterly dividend amount for Avista Corp (AVA) is $0.4225 per share.

When is the dividend payable for Avista Corp (AVA)?

The dividend is payable on March 15, 2021.

What was the percentage increase in the dividend for Avista Corp (AVA)?

The dividend was increased by 4.3%.

How many years has Avista Corp (AVA) increased its dividend?

Avista Corp (AVA) has increased its dividend for nineteen consecutive years.