AEP DECLARES QUARTERLY DIVIDEND ON COMMON STOCK

Rhea-AI Summary

The Board of Directors of American Electric Power (AEP) has declared a quarterly cash dividend of 83 cents a share on its common stock. This dividend, payable on June 9, 2023, to shareholders of record as of May 10, 2023, marks the company's 452nd consecutive quarterly dividend since beginning cash payments in July 1910.

AEP serves approximately 5.6 million regulated customers across 11 states and operates the nation's largest electricity transmission system. The company aims to enhance its renewable generation portfolio to around 50% of total capacity by 2032 and achieve an 80% reduction in carbon dioxide emissions from 2005 levels by 2030, targeting net zero by 2045.

Positive

• Declared a cash dividend of 83 cents per share, payable on June 9, 2023.
• Achieving its 452nd consecutive quarterly dividend reflects a strong commitment to returning income to shareholders.
• Plans to grow renewable generation portfolio to approximately 50% of total capacity by 2032, indicating strong future growth potential.

Negative

• None.

COLUMBUS, Ohio, April 25, 2023 /PRNewswire/ -- The Board of Directors of American Electric Power Co. (Nasdaq: AEP) today declared a regular quarterly cash dividend of 83 cents a share on the company's common stock.

The dividend is payable June 9, 2023, to shareholders of record as of May 10, 2023, and is the company's 452^nd consecutive quarterly common stock cash dividend. AEP has paid a cash dividend on its common stock every quarter since July 1910.

American Electric Power, based in Columbus, Ohio, is powering a cleaner, brighter energy future for its customers and communities. AEP's approximately 17,000 employees operate and maintain the nation's largest electricity transmission system and more than 225,000 miles of distribution lines to safely deliver reliable and affordable power to 5.6 million regulated customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 30,000 megawatts of diverse generating capacity, including more than 7,000 megawatts of renewable energy. The company's plans include growing its renewable generation portfolio to approximately 50% of total capacity by 2032. AEP is on track to reach an 80% reduction in carbon dioxide emissions from 2005 levels by 2030 and has committed to achieving net zero by 2045. AEP is recognized consistently for its focus on sustainability, community engagement, and diversity, equity 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 dividend amount declared by AEP?

AEP declared a quarterly cash dividend of 83 cents per share.

When is the AEP dividend payable?

The AEP dividend is payable on June 9, 2023.

What is the record date for AEP's dividend?

The record date for AEP's dividend is May 10, 2023.

How many consecutive dividends has AEP paid?

AEP has paid 452 consecutive quarterly cash dividends.

What are AEP's renewable energy goals?

AEP aims to increase its renewable generation portfolio to approximately 50% of total capacity by 2032.