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IDACORP, Inc. reports utility earnings, dividend actions, and regulatory developments tied to its Idaho Power subsidiary. The company is a holding company whose primary business is regulated electric utility operations, including the generation, transmission, distribution, sale, and purchase of electric energy and capacity.
Recurring IDACORP news focuses on customer growth, rate changes, earnings guidance, common stock dividends, power supply assumptions, and utility operating costs. Company updates also address infrastructure investment, wildfire mitigation expenses, tax credits under Idaho regulatory mechanisms, and regulatory outcomes affecting Idaho Power customer rates.
IDACORP, Inc. (NYSE: IDA) is set to report its third quarter earnings on October 29, with a conference call scheduled for 2:30 p.m. MT. The company is known for its commitment to providing affordable electricity, operating across a 24,000 square-mile area in Idaho and Oregon. As an industry leader in clean energy, IDACORP aims for 100% clean energy by 2045. Stakeholders can access the conference via a live webcast or call. Further details are available on their official website.
IDACORP, Inc. (NYSE: IDA) announced a 6.0% increase in its quarterly cash dividend to $0.71 per share, totaling an annual dividend of $2.84. This decision, approved by the Board of Directors, reflects a cumulative dividend growth of approximately 137% since 2012. Management anticipates recommending future annual increases of 5% or more, maintaining a payout ratio of 60-70% of sustainable earnings. Dividend declarations will be contingent upon various factors including capital requirements and liquidity.
IDACORP, Inc. (NYSE: IDA) reported a net income of $60.4 million or $1.19 per diluted share for Q2 2020, up from $53.2 million or $1.05 per diluted share in Q2 2019. For the first half of 2020, net income increased to $97.9 million or $1.94 per diluted share, compared to $95.8 million or $1.90 per diluted share last year. Customer growth was at 2.6% YoY, and IDACORP maintains its 2020 earnings guidance of $4.45 to $4.65 per share. Factors influencing performance included irrigation sales and operational efficiencies, despite negative impacts from COVID-19 on commercial and industrial customers.
On July 16, 2020, IDACORP, Inc. (NYSE:IDA) announced a common stock dividend of $0.67 per share. This dividend is set to be paid on August 31, 2020, to shareholders recorded by the close of business on August 5, 2020. This announcement reflects the company’s ongoing commitment to returning value to its shareholders.
IDACORP, Inc. (NYSE:IDA) will release its second quarter earnings results on July 30, 2020, before market opening. A conference call for analysts is also scheduled for 2:30 PM MT to discuss these results. The company operates Idaho Power and focuses on clean energy, targeting 100% clean energy by 2045. It serves a large customer base across Idaho and Oregon, leveraging low-cost hydropower to keep electricity prices competitive. For further details, visit www.idacorpinc.com.