IDACORP (IDA) Declares $0.67 Quarterly Dividend; Increased Common Stock Dividend Payout Ratio of 60 to 70%

IDACORP (NYSE: IDA) declared a quarterly dividend of $0.67 per share, or $2.68 annualized.

The dividend will be payable on December 2, 2019, to stockholders of record on November 5, 2019, with an ex-dividend date of November 4, 2019.

The annual yield on the dividend is 2.6 percent.

IDACORP, Inc. (NYSE: IDA) announced today that it has adopted a new dividend policy that provides for a target long-term dividend payout ratio of between 60 and 70% of sustainable IDACORP earnings. This is the first time the company has changed the dividend policy for the long-term target dividend payout ratio since 2011, when it established a target long-term dividend payout ratio of between 50 and 60% of sustainable IDACORP earnings.

"The increase to the payout range recognizes the importance our shareholders place on the dividend when considering the overall value proposition," said Darrel Anderson, IDACORP's President and Chief Executive Officer. "We believe the updated target payout ratio aligns with IDACORP's desire for sustained upward growth in the quarterly dividend. We plan to recommend to the Board of Directors future annual dividend increases of 5% or more as we now target this new payout range."

Actual declaration of dividend payments and the approval of management's recommendations are at the discretion of IDACORP's Board of Directors. In determining future dividend actions, the board will continue to consider 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. The fourth quarter 2019 dividend declared on Oct. 17, 2019, is $0.67 per share, payable on Dec. 2, 2019, for shareholders of record as of Nov. 5, 2019.

For a dividend history and other dividend-related data on IDACORP (IDA) click here.

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