Dividend Contenders List: Top 15

6. Avista Corporation (NYSE:AVA)

Dividend Yield as of November 11: 5.00%

Avista Corporation (NYSE:AVA) is a Washington-based energy company that mainly transmits and generates electricity, as well as distributes natural gas to residential, commercial, and industrial customers. The company’s consolidated financial results show ongoing improvement from 2023. It remains focused on executing its regulatory strategy while working to recover costs across all its jurisdictions. In the past 12 months, the stock returned over 14% to shareholders.

In the third quarter of 2024, Avista Corporation (NYSE:AVA) recorded a revenue of $393.7 million, up 3.7% from the same period last year. Its cash position has remained somewhat stable as its trailing twelve-month operating cash flow is nearly $500 million. The company expects that the private equity markets, which influence valuations in its other businesses, will improve in the second half of 2024. This improvement has not occurred, leading the company to revise its consolidated earnings guidance down by $0.10, now forecasting earnings of $2.26 to $2.46 per diluted share for 2024.

Avista Corporation (NYSE:AVA) pays a quarterly dividend of $0.475 per share. It is one of the best stocks on our dividend contenders list as the company has raised its payouts for 22 years in a row. The stock supports a dividend yield of 5%, as of November 11.