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IDACORP boosts dividend by 6.3%

IDACORP Inc. raised its quarterly cash dividend by 6.3% to 67 cents per common share, or $2.68 per share on an annualized basis.

"IDACORP's Board of Directors has approved an annual dividend increase every year since 2012, resulting in a cumulative average growth rate of over 9%," said Darrel Anderson, IDACORP president and CEO. "At this time, management expects to recommend to the Board of Directors future annual increases in the dividend of 5% or more which would keep the company near the upper end of the current target payout ratio of between 50 and 60 percent of sustainable IDACORP earnings."

The company said it will announce dividend declaration, ex-dividend, record and payable dates during the fourth quarter of 2019, according to a Sept. 20 news release.