Wednesday, February 15, 2023

Dividend Increase - Avista Corporation (AVA)

 



Thursday, February 2nd the Board of Directors of Avista Corporation (AVA) announced a quarterly dividend increase of from $0.44 to $0.46 per share that’s payable March 15, 2023 to holders of record February 17, 2023. This represents a 4.55% increase over the last quarterly dividend.


“The dividend increase approved by the board of directors marks the twenty-first 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.


With current price $ 39.95 (yesterday's close), this raise brings their dividend yield to 4.61%.



Avista is a Dividend Contenders with a 21 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 4.1, 4.3, 4.2 and 4.3 (Dividend Champions.xls)



Since I own 50 shares of AVA, this will increase my portfolio's projected annual net dividend income by $2.98.


I was expecting an increase of around 5%, so this announcement met my expectations.


This is the 3rd dividend increase I've received from Avista Corporation since initiating a position in July 2020. During this period, the dividend has increased as expected from $0.405 to $0.46 or 13.6%.


This increase raises my YOC to 5.14%.



Summary of 2023 Dividend Increases / Cuts



Click here to see my portfolio holdings.


You can follow the development of my dividends here.


Full Disclosure: Long AVA


Thanks for stopping by!



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