Avista Corporation (AVA) to Issue Quarterly Dividend of $0.36

Avista Corporation (NYSE:AVA) declared a quarterly dividend on Tuesday, November 21st, RTT News reports. Investors of record on Friday, December 1st will be paid a dividend of 0.3575 per share by the utilities provider on Friday, December 15th. This represents a $1.43 annualized dividend and a yield of 2.76%.

Avista Corporation has increased its dividend payment by an average of 3.9% per year over the last three years and has raised its dividend every year for the last 14 years. Avista Corporation has a dividend payout ratio of 78.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Avista Corporation to earn $2.02 per share next year, which means the company should continue to be able to cover its $1.43 annual dividend with an expected future payout ratio of 70.8%.

Avista Corporation (NYSE:AVA) traded down $0.09 during midday trading on Tuesday, reaching $51.83. 262,200 shares of the company’s stock traded hands, compared to its average volume of 443,543. The company has a current ratio of 0.47, a quick ratio of 0.37 and a debt-to-equity ratio of 0.92. Avista Corporation has a twelve month low of $37.78 and a twelve month high of $52.83. The stock has a market capitalization of $3,344.44, a price-to-earnings ratio of 25.20 and a beta of 0.44.

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In other news, VP James M. Kensok sold 4,700 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $52.01, for a total transaction of $244,447.00. Following the completion of the transaction, the vice president now directly owns 12,787 shares of the company’s stock, valued at $665,051.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Kevin J. Christie sold 500 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $51.81, for a total transaction of $25,905.00. Following the transaction, the vice president now directly owns 1,992 shares of the company’s stock, valued at $103,205.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 173,000 shares of company stock valued at $47,980. Company insiders own 1.10% of the company’s stock.

Several research firms have issued reports on AVA. BidaskClub upgraded shares of Avista Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research lowered shares of Avista Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Finally, KeyCorp restated a “hold” rating on shares of Avista Corporation in a research report on Friday, October 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $47.75.

Avista Corporation Company Profile

Avista Corporation is an electric and natural gas utility company. The Company operates through two segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). The Company’s regional services include government and higher education, medical services, retail trade and finance. The Company’s businesses also include sheet metal fabrication, venture fund investments, real estate investments, a company that explores markets that could be served with liquefied natural gas (LNG), as well as certain other investments of Avista Capital, which is a subsidiary of the Company.

Dividend History for Avista Corporation (NYSE:AVA)

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