Avista Corp. (AVA) will raise its quarterly dividend by 4.1 percent to 44 cents per share in 2022. This comes on the back of a 4.3 percent hike to 42.25 cents per share in 2021 and marks 20 consecutive years of dividend increases.

The next AVA dividend is payable March 15, 2022, to shareholders of record at the close of business on Feb. 18, 2022. A new annual dividend rate of $1.76 per share yields 4.1% at a stock price of $43.38. Avista Corp now pays an estimated $125 million in dividends to shareholders annually.

Avista Corp. is an energy company involved in the production, transmission and distribution of energy as well as other energy-related businesses. Avista Utilities is the company's operating division that provides customers with electric service and natural gas. Its service territory includes eastern Washington, northern Idaho and parts of southern and eastern Oregon. Alaska Energy and Resources Company is an Avista subsidiary that provides retail electric service in the city and borough of Juneau, Alaska, through its subsidiary Alaska Electric Light and Power Company. Avista, formery The Washington Water Power Company, has paid a dividend every year since at least 1950.