Avista has increased its quarterly dividend. The company will distribute $0.305 per share of common stock on March 15 to shareholders of record as of the close of business on Feb. 22. The amount represents an increase of 5% over the last quarterly payout of $0.29, which the firm held steady through all four quarters of 2012. Prior to that, the disbursement was $0.275 per share.
At an annualized rate, the new payout of $0.305 yields 4.7% on the firm's current stock price. Avista pointed out in its announcement that this marks the eleventh consecutive year the dividend has been raised.
The article Avista Hikes Its Dividend originally appeared on Fool.com.
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