LONDON, UK / ACCESSWIRE / November 2, 2017 / Pro-Trader Daily takes a closer look at IDACORP, Inc. (NYSE: IDA) as the Company's stock will begin trading ex-dividend on November 03, 2017. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on November 02, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:

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Dividend Declared

On October 19, 2017, Directors of IDACORP declared a common stock dividend of $0.59 per share, payable November 30, 2017, to holders of record at the close of business on November 06, 2017. Earlier on September 22, 2017, IDACORP announced that its Board of Directors approved an increase in the regular quarterly cash dividend on IDACORP's common stock of 7.3% to $0.59 per share.

IDACORP's indicated dividend represents a yield of 2.57%, which is substantially above the average dividend yield of 2.31% for the Utilities sector. The Company has raised its dividend every year since 2012.

Dividend Insights

IDACORP has a dividend payout ratio of 59.0%, which indicates that the Company distributes approximately $0.59 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.

According to analysts' estimates, IDACORP is estimated to report earnings of $4.15 for the next year, which is substantially above the Company's annualized dividend of $2.36 per share.

As of June 30, 2017, IDACORP's cash and cash equivalents totaled $32.63 million compared to $61.48 million of cash as on December 31, 2016. The Company's operating cash flow for the six months of 2017 totaled $191.64 million compared to cash flow of $137.89 million in the year-ago same period. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.

Recent Development for IDACORP

On October 19, 2017, IDACORP announced that it will report its third-quarter results on November 02, 2017, in a news release before the stock markets open. The Company will hold an analyst conference call that day at 4:30 p.m. ET to discuss the third quarter 2017 earnings.

About IDACORP

Boise, Idaho-based and formed in 1998, IDACORP, is a holding Company comprised of Idaho Power Company, a regulated electric utility; IDACORP Financial, a holder of affordable housing projects and other real estate investments; and Ida-West Energy, an operator of small hydroelectric generation projects that satisfy the requirements of the Public Utility Regulatory Policies Act of 1978.

Idaho Power began operations in 1916 and employs approximately 2,000 people to serve a 24,000 square-mile service area in southern Idaho and eastern Oregon.

Stock Performance

At the closing bell, on Wednesday, November 01, 2017, IDACORP's stock marginally fell 0.77%, ending the trading session at $91.32. A total volume of 133.13 thousand shares have exchanged hands. The Company's stock price surged 5.37% in the last three months, 8.51% in the past six months, and 19.26% in the previous twelve months. Moreover, the stock rallied 13.37% since the start of the year. The stock is trading at a PE ratio of 23.10 and has a dividend yield of 2.58%. The stock currently has a market cap of $4.60 billion.

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