AEP DECLARES QUARTERLY DIVIDEND ON COMMON STOCK

Rhea-AI Summary

On January 24, 2023, American Electric Power (AEP) announced a quarterly cash dividend of 83 cents per share on its common stock. This dividend, marking the company's 451st consecutive quarterly payment, will be payable on March 10, 2023, to shareholders of record by February 10, 2023. AEP has consistently provided cash dividends since July 1910. The company operates the largest electricity transmission system in the U.S., serving 5.5 million customers across 11 states, and has plans to increase its renewable generation portfolio to 50% by 2032 while aiming for an 80% reduction in carbon dioxide emissions by 2030.

Positive

• Quarterly cash dividend of 83 cents per share reflects ongoing shareholder value.
• 451st consecutive quarterly dividend demonstrates company reliability and commitment.
• Plans to increase renewable generation to 50% of total capacity by 2032 indicates strong future growth.
• AEP aims for an 80% reduction in carbon emissions by 2030, enhancing sustainability.

Negative

• None.

COLUMBUS, Ohio, Jan. 24, 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 March 10, 2023, to shareholders of record as of Feb. 10, 2023, and is the company's 451st 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 16,700 employees operate and maintain the nation's largest electricity transmission system and more than 224,000 miles of distribution lines to safely deliver reliable and affordable power to 5.5 million regulated customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 31,000 megawatts of diverse generating capacity, including more than 6,900 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 AEP's dividend payable?

The dividend is payable on March 10, 2023.

Who is eligible for the AEP dividend?

Shareholders of record as of February 10, 2023, are eligible for the dividend.

How long has AEP been paying dividends?

AEP has been paying cash dividends since July 1910.

What are AEP's future sustainability goals?

AEP aims for an 80% reduction in carbon dioxide emissions by 2030 and to grow its renewable energy portfolio to 50% by 2032.