) has increased its quarterly dividend by 5.17%, bringing the
annualized dividend to $1.22 per share from the previous payout
of $1.16 per share.
Following the hike, the company will now pay a quarterly dividend
of 30.50 cents as against the 29 cents paid earlier. The said
dividend will be paid on Mar 15, 2013, to shareholders of record
as of the close of business on Feb 22, 2013.
This is the company's eleventh consecutive annual dividend
increase. Last February, the company had increased the quarterly
dividend by 5.45% to 29 cents per share.
The uninterrupted dividend increase demonstrates the financial
strength of the company. After taking into consideration results
of operations, cash flows, and financial and competitive
conditions, the company has continuously paid dividends on its
common stock. Net income from the regulated utility operations is
the main source for dividends.
Other utility stocks that recently increased their dividend to
compete in the market are
NV Energy, Inc.
) that increased its quarterly dividend by 11.8% to 19 cents,
) that increased its quarterly dividend by 7.1% to 36.75 cents
per share and
CMS Energy Corp.
) that increased its dividend by 6.25% to 0.255 cents per share.
Avista Corp. is an energy company involved in the production,
transmission and distribution of energy as well as other
energy-related businesses. Avista Utilities provide reliable and
safe energy services to customers in eastern Washington, northern
Idaho and parts of southern and eastern Oregon. Avista's primary,
non-utility subsidiary is Ecova that offers strategic energy
The company is expected to release its fourth quarter results on
Feb 20, 2013. The Zacks Consensus Estimates for fourth quarter
and full year 2012 are currently at 45 cents per share and $1.52
per share, respectively.
Besides driving profits, the company seems focused on shareholder
value creation. Apart from the dividend hike, the company has
recently entered into agreements that if approved would complete
the proceedings related to the general rate requests filed on Oct
11, 2012. This would provide certainty to the customers with
respect to energy rates. Also, the rates finalized will be the
lowest not only in the Northwest but also in the nation.
The company presently retains a short-term Zacks Rank #2 (Buy).
AVISTA CORP (AVA): Free Stock Analysis Report
CMS ENERGY (CMS): Free Stock Analysis Report
NORTHEAST UTIL (NU): Free Stock Analysis
NV ENERGY INC (NVE): Free Stock Analysis
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