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Avista (NYSE: AVA ) 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.