IDACORP (IDA) Announces 7.8% Qtr. Dividend Hike to 55c/Share
- AT&T (T) Agrees to Acquire Time Warner (TWX) for More than $80 Billion - WSJ
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
IDACORP (NYSE: IDA) announced that its Board of Directors approved an increase in the regular quarterly cash dividend on IDACORP's common stock of 7.8 percent to $0.55 per share. At the new rate, the indicated dividend on an annual basis is $2.20 per share.
"Today's action by the Board of Directors maintains the dividend payout ratio within IDACORP's stated long-term goal of between 50 and 60 percent of sustainable IDACORP earnings, based on the midpoint of projected 2016 annual earnings," said Darrel Anderson, IDACORP President and Chief Executive Officer. "IDACORP's Board of Directors has now approved dividend increases in each of the last five years, representing a cumulative increase of 83 percent in IDACORP's quarterly dividend. These increases are reflective of continued strong performance by the company.
"IDACORP remains committed to the target dividend payout ratio, and management anticipates recommending to the Board of Directors future annual increases of 5 percent or more until we reach the upper end of our target payout range," added Anderson.
The declaration of dividend payments and the approval of management's recommendations are at the discretion of the Board of Directors. In determining future dividend actions, the Board of Directors will continue to take into account factors such as current and projected capital requirements, the company's liquidity position and earnings, the competitiveness of the dividend yield, business cycles, credit rating impacts, legal requirements, long-term sustainability, and other factors.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- IDACORP (IDA) Declares $0.55 Quarterly Dividend; 2.9% Yield
- Pinnacle West Capital (PNW) Raises Quarterly Dividend 4.8% to $0.655; 3.5% Yield
- Crown Castle (CCI) Raises Quarterly Dividend 7.3% to $0.95; 4.2% Yield
Create E-mail Alert Related CategoriesDividend Hike, Dividends, Management Comments
Related EntitiesDividend, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!