SPOKANE, Wash., Feb. 13 // -- Avista Corp.'s board of directors has declared a quarterly dividend of $0.18 per share on the company's common stock. The common stock dividend is payable March 13, 2009, to shareholders of record at the close of business on Feb. 26, 2009.
In addition, the company announced the retirement of Executive Vice President Malyn Malquist effective March 31, 2009. Malquist, 56, joined Avista in 2002 as senior vice president and chief financial officer. He was named executive vice president in 2008.
"Malyn has been an invaluable member of our senior leadership team. His extensive background in utility sector finance and management has been instrumental in strengthening our company's financial health and helping us attain important goals, including regaining our investment-grade credit rating," said Scott Morris, Avista Corp. chairman of the board, president and chief executive officer. "We greatly appreciate Malyn's knowledgeable insight, his leadership and his service to our stakeholders."
"In my six years with Avista, I've been privileged to work with a very knowledgeable and professional team of people," Malquist said. "Together, we've accomplished many things, and I am proud to have had the opportunity to work with them. We have had a smooth transition in the CFO position to Mark Thies. I am confident that the company is in good hands under his financial leadership."
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 our operating division that provides service to 355,000 electric and 314,000 natural gas customers in three Western states. Avista's primary, non-regulated subsidiary is Advantage IQ. Our stock is traded under the ticker symbol "AVA." For more information about Avista, please visit http://www.avistacorp.com.
Avista Corp. and the Avista Corp. logo are trademarks of Avista Corporation.
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SOURCE: Avista Corp.
Web site: http://www.avistacorp.com/
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