Avista’s board votes to increase quarterly dividend on shares of common stock

Avista Corp.’s board of directors has voted to raise the company’s quarterly dividend to 35.75 cents on shares of common stock, officials announced Friday.

The 4.4 percent increase means that shareholders of the Spokane-based utility will receive an extra 1.5 cents per quarter on each share of common stock, for a total of $1.43 annually.

The common stock dividend is payable March 15 to shareholders of record at the close of business on Feb. 24.

The board has raised the stock dividend for 15 consecutive years.

“I believe it demonstrates the board’s continued confidence in the financial strength of our company,” said Scott Morris, the company’s chairman and chief executive.