5 Best High-Dividend Stocks to Buy Now

4. Avista Corporation (NYSE:AVA)

Dividend Yield as of October 11: 4.64%

Avista Corporation (NYSE:AVA) generates and transmits electricity and also distributes natural gas to its residential and commercial customers. The company currently offers a quarterly dividend of $0.44 per share for a dividend yield of 4.64%, as of October 11. In 2022, it extended its dividend growth streak to 20 years, which makes it one of the best dividend stocks with a high yield.

In Q2 2022, Avista Corporation (NYSE:AVA) reported revenue of $368.5 million, which showed a 28.2% growth from the same period last year. For the first six months of the year, the company’s net income amounted to $83 million, compared with $82.1 million in the prior-year period. Its operating cash flow for the quarter jumped to $44 million, from $38.8 million in Q2 2021.

In September, Mizuho upgraded Avista Corporation (NYSE:AVA) to Buy with a $44 price target, highlighting the company’s revenue increases in both electric and gas cases.

At the end of the June quarter of 2022, 18 hedge funds tracked by Insider Monkey reported owning stakes in Avista Corporation (NYSE:AVA), the same as in the previous quarter. These stakes have a combined value of nearly $94 million, compared with $56 million worth of stakes owned by hedge funds in the preceding quarter.