AEP DECLARES QUARTERLY DIVIDEND ON COMMON STOCK

Rhea-AI Summary

American Electric Power (AEP) has declared a quarterly cash dividend of 88 cents per share on its common stock, payable on Sept. 10, 2024, to shareholders of record as of Aug. 9, 2024. This marks AEP's 457th consecutive quarterly dividend, maintaining a tradition dating back to July 1910. AEP, headquartered in Columbus, Ohio, serves 5.6 million customers across 11 states and operates the nation's largest electric transmission system. The company is investing $43 billion over five years to enhance grid reliability and cleanliness, aiming for an 80% reduction in CO2 emissions by 2030 and net-zero emissions by 2045.

Positive

• Declared quarterly dividend of $0.88 per share, maintaining 457 consecutive quarters of dividends
• Operates the nation's largest electric transmission system, serving 5.6 million customers in 11 states
• Investing $43 billion over 5 years to improve grid reliability and sustainability
• On track to achieve 80% reduction in CO2 emissions by 2030 and net-zero by 2045

Negative

• None.

COLUMBUS, Ohio, July 24, 2024 /PRNewswire/ -- The Board of Directors of American Electric Power Co. (Nasdaq: AEP) has declared a regular quarterly cash dividend of 88 cents a share on the company's common stock.

The dividend is payable Sept. 10, 2024, to shareholders of record as of Aug. 9, 2024, and is the company's 457^th consecutive quarterly common stock cash dividend. AEP has paid a cash dividend on its common stock every quarter since July 1910.

At American Electric Power, based in Columbus, Ohio, we understand that our customers and communities depend on safe, reliable and affordable power. Our nearly 16,000 employees operate and maintain more than 40,000 miles of transmission lines, the nation's largest electric transmission system, and more than 225,000 miles of distribution lines to deliver power to 5.6 million customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 29,000 megawatts of diverse generating capacity, including nearly 6,000 megawatts of renewable energy. AEP is investing $43 billion over the next five years to make the electric grid cleaner and more reliable. We are on track to reach an 80% reduction in carbon dioxide emissions from 2005 levels by 2030 and have a goal to achieve net zero by 2045. AEP is recognized consistently for its focus on sustainability, community engagement and inclusion. AEP's family of companies includes utilities AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana, east Texas and the Texas Panhandle). AEP also owns AEP Energy, which provides innovative competitive energy solutions nationwide. For more information, visit aep.com.

WEBSITE DISCLOSURE

AEP may use its website as a distribution channel for material company information. Financial and other important information regarding AEP is routinely posted on and accessible through AEP's website at https://www.aep.com/investors/. In addition, you may automatically receive email alerts and other information about AEP when you enroll your email address by visiting the "Email Alerts" section at https://www.aep.com/investors/.

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SOURCE American Electric Power

FAQ

What is the amount of AEP's latest quarterly dividend?

AEP has declared a quarterly cash dividend of 88 cents per share on its common stock.

When will AEP's latest dividend be paid?

The dividend will be payable on September 10, 2024, to shareholders of record as of August 9, 2024.

How many consecutive quarters has AEP paid dividends?

This marks AEP's 457th consecutive quarterly common stock cash dividend, with a history of dividend payments dating back to July 1910.

What are AEP's carbon emission reduction goals?

AEP aims to achieve an 80% reduction in carbon dioxide emissions from 2005 levels by 2030 and has a goal to reach net-zero emissions by 2045.

How much is AEP investing in grid improvements?

AEP is investing $43 billion over the next five years to make the electric grid cleaner and more reliable.