IDACORP Inc

IDACORP's board approved a higher regular quarterly cash dividend of $0.90 per share, indicating $3.60 annually once implemented. The increase comes as the utility's shares have eased over shorter windows, with the 30-day move down 4.9% and the 90-day share price return down 10.2%, while the 1-year total shareholder return of 6.0% and 3-year total shareholder return of 46.3% point to longer-term gains. IDACORP's most followed valuation narrative pegs fair value at $158.10 per share, above the recent $130.47 close, while the SWS DCF model estimates fair value at $112.08, below that same close. The company's service area has seen robust customer and population growth alongside significant new large-scale industrial investments such as Micron fabs and data centers, suggesting sustained above-average electricity demand well into the 2030s. IDACORP's heavy reliance on weather-sensitive hydro generation and the need to fund large capital projects under evolving regulatory decisions could test that undervaluation story.

IDACORP reported second-quarter 2026 results that exceeded earnings expectations and lifted the lower end of its full-year earnings guidance range, alongside higher year-over-year sales and net income. The stock has returned 12.26% year to date and 17.99% over the past year, with a three-year total shareholder return of 57.60%. At a share price of $142.91, one widely followed narrative pegs fair value at $158.10 using a 7.108% discount rate, implying some upside, while a separate discounted cash flow model estimates fair value at $111.33, suggesting the stock may be overvalued. Robust customer and population growth in IDACORP's service area, along with large-scale industrial investments such as Micron fabs and data centers, supports expectations of sustained above-average electricity demand into the 2030s.

IDACORP has declared a quarterly dividend of $0.88 per share, in line with the previous payout. The dividend is payable on August 31 to shareholders of record as of August 5, with the ex-dividend date also set for August 5. Based on the current share price, the forward yield stands at 2.33%.