• Earlier in January 2026, IDACORP’s board declared a US$0.88 per-share common stock dividend, payable on March 2, 2026 to shareholders of record on February 5, 2026, underscoring ongoing cash returns to investors.
• At the same time, its utility arm Idaho Power outlined multi-year infrastructure spending and a long-term move toward 100% clean energy, aligning dividend continuity with a large capital build-out and energy transition plan.
• Next, we’ll examine how IDACORP’s dividend declaration alongside its clean energy and infrastructure investment plans shapes the company’s investment narrative.

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What Is IDACORP's Investment Narrative?

To own IDACORP today, you have to be comfortable with a fairly traditional regulated-utility story tied to a very ambitious clean energy transition. The latest US$0.88 dividend declaration largely reinforces the existing thesis rather than changing it, signalling that management intends to keep cash returns flowing even as Idaho Power prepares to spend roughly US$1.25–1.35 billion in 2026 and up to US$3.6 billion through 2029 on infrastructure and grid upgrades. In the near term, the bigger swing factors remain how regulators treat those capital plans, the timing and cost of coal-to-gas conversions, and the impact of higher interest expenses in a capital-intensive build-out. With the shares already trading on a premium earnings multiple, the main risk is that rising funding needs or regulatory pushback tighten the room to keep growing both earnings and the dividend.

However, those same capital plans that support long-term reliability could also pressure cash flows and payouts near term.
IDACORP's shares are on the way up, but they could be overextended by 22%. Uncover the fair value now.

Exploring Other Perspectives

Investors in the Simply Wall St Community have fair value estimates from about US$109.70 to US$141.11 across 4 views. Against that spread, IDACORP’s sizeable clean energy capex plan and regulatory exposure give those differing opinions real consequences for future returns.

Explore 4 other fair value estimates on IDACORP - why the stock might be worth 18% less than the current price!

Build Your Own IDACORP Narrative

Disagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your IDACORP research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision.
• Our free IDACORP research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate IDACORP's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.