On Wednesday, February 12th the Board of Directors of Avista Corporation (AVA) announced a quarterly dividend increase of from $0.47 to $0.49 per share that’s payable March 14, 2025 to holders of record February 26, 2025. This represents a 3.16% increase over the last quarterly dividend.
“For twenty-three consecutive years, the board of directors has raised the dividend for our shareholders. I believe it demonstrates the board’s commitment to maximizing shareholder value and Avista’s commitment to shareholder returns,” said Avista President and Chief Executive Officer Heather Rosentrater.
At the current price of $36.77 (Friday's close), this increase will raise AVA's dividend yield to 5.33%.
Avista Corporation is a Dividend Contenders with a 23 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 3.3, 4.0, 4.2 and 4.1 (Dividend Champions.xls)
As an owner of 50 shares of Avista, the recent dividend increase adds $2.24 to my projected annual net dividend income.
I was expecting a 4% increase, so this was a slight disappointment, but better than nothing.
This recent dividend increase marks the fifth consecutive raise I’ve received from Avista Corporation since I acquired my shares in July 2020. Over the past five years, AVA’s quarterly dividend has increased from $0.405 to $0.49 per share, reflecting a 21% growth, which is in line with my expectations.
The moment of writing, AVA’s weight of my portfolio is about 0.24% and its share of future annual dividend income is approximately 0.30%.
Following this increase, my yield on cost is 5.48%.
Summary of 2025 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!
No comments:
Post a Comment