Avista US Stock Price, News & Analysis

Avista Corp. (NYSE: AVA) has nominated Sena Kwawu for election to its Board of Directors, effective May 11, 2021. Kwawu, a seasoned operational and finance leader with over 25 years of experience, is currently senior vice president of operations at Frontdoor, Inc., and has held prominent positions at Starbucks and other major firms. His appointment follows the retirement of Marc Racicot due to the mandatory retirement age. CEO Dennis Vermillion expressed confidence in Kwawu's ability to enhance strategic leadership and customer experience at Avista.

Avista Corp. reported a net income of $129.5 million, or $1.90 per diluted share for 2020, down from $197.0 million, or $2.97 per share in 2019. For Q4 2020, net income was $58.7 million, up from $50.8 million in Q4 2019. The utility's earnings surpassed expectations, driven by a higher utility margin and reduced income taxes, despite increased operating expenses. Avista initiated earnings guidance for 2021 at $1.96 to $2.16 per share, with expectations of 4-6% growth post-2023 as regulatory lags are addressed.

Avista Corp. (NYSE: AVA) has declared a quarterly dividend of $0.4225 per share, marking a 4.3% increase from the previous dividend. This raises the annualized dividend to $1.69. The dividend is payable on March 15, 2021, to shareholders recorded by February 19, 2021. This is the nineteenth consecutive year the board has raised the dividend, showcasing its commitment to maximizing shareholder value. The decision is made considering financial results and competitive conditions.

Avista (NYSE: AVA) has launched its latest corporate responsibility disclosure initiative, presenting the 2021 corporate responsibility report and comprehensive ESG information on its website, avistacorp.com. The report outlines the company's commitments concerning the environment, people, customers, communities, and ethical governance. Avista's President and CEO, Dennis Vermillion, emphasized the importance of making ESG data accessible for all stakeholders. For further details, visit the corporate responsibility page.

Avista Corp. (NYSE: AVA) will hold its quarterly conference call on February 24, 2021, at 10:30 a.m. EST to discuss fourth quarter 2020 results. A news release with earnings will be issued at 7:05 a.m. EST on the same day. Interested parties can access the call via Avista's website or by dialing (855) 806-8606 with confirmation number 1075438. A replay will be available through March 3, 2021. Avista provides electric service to 397,000 customers and natural gas to 363,000 customers across a service territory of 30,000 square miles.

Avista Corp. (NYSE: AVA) has announced a quarterly dividend of $0.405 per share, payable on December 15, 2020, to shareholders on record by the end of business on December 3, 2020.

The board assesses dividends based on various factors, including financial performance and market conditions. Avista operates in energy production and distribution, serving approximately 397,000 electric and 363,000 natural gas customers across a 30,000 square mile territory.

Avista Corp. (NYSE: AVA) reported Q3 2020 net income of $4.9 million, or $0.07 per share, down from $5.1 million, or $0.08 per share in Q3 2019. Year-to-date net income was $70.8 million, or $1.04 per share, significantly lower than $146.2 million, or $2.21 per share in 2019. The decrease was driven by higher bad debt expenses due to COVID-19. However, Avista confirmed its earnings guidance for 2020 remains between $1.75 and $1.95 per share. The company emphasized its commitment to community support amidst the pandemic, with over $2 million in charitable contributions.

Avista (NYSE: AVA) has submitted filings with the Washington Utilities and Transportation Commission aimed at recovering costs from infrastructure investments without raising customer bills. These filings include general rate cases for electric and natural gas services, a Tax Customer Credit, and a deferral request linked to its Wildfire Resiliency Plan. The proposals project an annual increase in electric revenues of $44.2 million and natural gas revenues of $12.8 million, both offset by tax credits to maintain current customer rates.