IDACORP, Inc. (IDA) Announces Quarterly Dividend of $0.55
IDACORP, Inc. (NYSE:IDA) announced a quarterly dividend on Thursday, July 20th, RTT News reports. Shareholders of record on Tuesday, August 8th will be paid a dividend of 0.55 per share by the coal producer on Wednesday, August 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.55%.
IDACORP has raised its dividend by an average of 9.8% per year over the last three years and has increased its dividend every year for the last 5 years. IDACORP has a dividend payout ratio of 55.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect IDACORP to earn $4.14 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 53.1%.
IDACORP (IDA) traded up 1.58% during trading on Thursday, hitting $86.21. The company had a trading volume of 184,777 shares. The company has a market capitalization of $4.34 billion, a price-to-earnings ratio of 21.09 and a beta of 0.51. IDACORP has a one year low of $72.93 and a one year high of $90.67. The stock has a 50-day moving average of $86.93 and a 200 day moving average of $83.30.
IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, May 4th. The coal producer reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.10. IDACORP had a return on equity of 9.60% and a net margin of 16.02%. The business had revenue of $302.54 million during the quarter. During the same quarter in the previous year, the company earned $0.51 earnings per share. Equities analysts forecast that IDACORP will post $4.00 EPS for the current fiscal year.
A number of equities analysts have recently issued reports on IDA shares. BidaskClub cut shares of IDACORP from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Zacks Investment Research lowered shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th.
In other IDACORP news, VP Lisa A. Grow sold 1,200 shares of the firm’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $88.62, for a total value of $106,344.00. Following the completion of the transaction, the vice president now directly owns 17,248 shares of the company’s stock, valued at approximately $1,528,517.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.71% of the stock is owned by company insiders.
IDACORP, Inc is a holding company. The Company’s principal operating subsidiary is Idaho Power Company (Idaho Power). The Company’s segment is utility operations. The utility operations segment’s primary source of revenue is the regulated operations of Idaho Power. Idaho Power is an electric utility engaged in the generation, transmission, distribution, sale and purchase of electric energy and capacity.
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