IDACORP Raises Quarterly Dividend 2.3% to $0.90

IDACORP Inc. raised its quarterly dividend 2.3% to $0.90 a share from $0.88. The next ex-dividend date is November 5, 2026, and the payment date is November 30, 2026.

Why the dividend changed

The increase reflects stronger earnings from customer growth, higher regulated rates and revenue from large contract customers. Management kept the increase restrained because the utility is directing substantial capital toward generation, storage and transmission infrastructure needed to serve rising demand.

Chief Executive Lisa Grow said IDACORP expects capital expenditures to remain elevated as it develops infrastructure for customer and load growth. The company is prioritizing reinvestment and expects dividend growth to remain decoupled from earnings-per-share growth. The board also considers capital requirements, liquidity, financial condition, yield competitiveness, credit ratings and equity dilution when setting the payout, according to the dividend-increase announcement.

That policy fits the operating picture. Second-quarter net income attributable to IDACORP increased to $102.6 million from $95.8 million a year earlier. The utility benefited from customer growth, rate changes and large-contract revenue, while higher operating, depreciation and financing costs reflected its infrastructure program. IDACORP also put 250 megawatts of batteries into service during June and continued construction on major transmission and generation projects. The company raised the lower end of its full-year earnings guidance to $6.30 to $6.45 per diluted share while retaining a capital-spending forecast of $1.3 billion to $1.5 billion, according to its second-quarter results and quarterly filing.

Dividend track record

The new rate extends IDACORP’s dividend-growth streak to 14 consecutive years. The company last cut its annual dividend in 2004. Its five-year record amounts to 5.1% annual growth, though the full-year figures show that increases have moderated.

Annual payments rose from $2.72 a share in 2020 to $2.88 in 2021, an increase of 5.9%. The total then climbed to $3.04 in 2022, up 5.6%, and $3.20 in 2023, up 5.3%. Growth slowed to 4.7% in 2024, when payments totaled $3.35, and to 3.3% in 2025, when they totaled $3.46.

The quarterly record shows how those annual totals developed. IDACORP paid $0.86 on ex-dividend dates through August 5, 2025, then paid $0.88 from November 5, 2025, through August 5, 2026. The move to $0.90 continues the pattern of one measured step higher each year. At the new rate, the annual dividend is $3.60 a share, equivalent to $360.00 of annual income for every 100 shares.

Is the dividend covered?

The dividend consumes 58% of earnings. That leaves part of earnings available for the utility’s capital program and places the payout within management’s stated framework for balancing shareholder distributions with reinvestment.

SmarterDividends rates the dividend A, with a safety score of 87. That grade means the payout is very safe within the scoring range of 80-100. The earnings payout ratio and regulated utility revenue base support that assessment, while the company’s elevated capital requirements remain the principal constraint on faster dividend growth.

Yield and valuation

At a share price of $140.78, IDACORP’s forward yield is 2.57%. That is below the Utilities sector median forward yield of 4.11%, meaning the stock provides less current dividend income than the sector benchmark despite its long growth record.

The company has a market value of $8.1 billion, and the shares have recorded a 6.8% gain over one year. SmarterDividends’ fair-value estimate is $125.33, corresponding to 11% downside from the share price, while the valuation verdict is fair. The yield and valuation figures together show that the shares’ income proposition rests more on dividend safety and continued growth than on a high starting yield.

What to watch

The immediate shareholder dates are November 5, 2026, for the next ex-dividend date and November 30, 2026, for payment. Investors tracking operating coverage can focus on whether earnings remain within guidance as infrastructure spending, financing costs and depreciation rise.

IDACORP scheduled its third-quarter results and analyst call for October 29, 2026, providing the next update on earnings, customer demand, large-contract revenue and project execution. The company said presentation materials and a replay would be available through investor relations, according to its earnings-call notice. Progress on major generation and transmission projects, along with the cost of financing them, will remain central to the balance between reinvestment and future dividend growth.