AEP Increases Quarterly Dividend To 74 Cents A Share

Rhea-AI Summary

American Electric Power Co. (AEP) announced a quarterly cash dividend increase of 74 cents per share, up 4 cents from the previous rate. This dividend aligns with the company’s 5% to 7% operating earnings growth target. The dividend will be payable on Dec. 10, 2020, to shareholders recorded by Nov. 10, 2020, marking AEP's 442nd consecutive quarterly dividend. AEP emphasizes its commitment to delivering reliable energy while providing value to shareholders, underpinned by a long history of dividend payments since 1910.

Positive

• Dividend increased to 74 cents per share, aligning with operating earnings growth.
• 442nd consecutive quarterly dividend reflects strong financial stability.
• Commitment to reliable and clean energy enhances shareholder value.

Negative

• None.

COLUMBUS, Ohio, Oct. 20, 2020 /PRNewswire/ -- The Board of Directors of American Electric Power Co. (Nasdaq: AEP) today declared a regular quarterly cash dividend of 74 cents a share on the company's common stock, an increase of 4 cents per share. The increase is in line with the company's 5% to 7% operating earnings growth range.

The dividend is payable Dec. 10, 2020, to shareholders of record as of Nov. 10, 2020, and is the company's 442^nd consecutive quarterly common stock cash dividend.

"AEP remains focused on delivering reliable, affordable and clean energy to our customers, while providing value to our shareholders," said Nicholas K. Akins, AEP chairman, president and chief executive officer. "AEP has paid a cash dividend on its common stock every quarter since 1910, and we're pleased our strategic business decisions continue to provide increased returns to our shareholders."

American Electric Power, based in Columbus, Ohio, is focused on building a smarter energy infrastructure and delivering new technologies and custom energy solutions to our customers. AEP's approximately 17,400 employees operate and maintain the nation's largest electricity transmission system and more than 221,000 miles of distribution lines to efficiently deliver safe, reliable power to nearly 5.5 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 5,300 megawatts of renewable energy. 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, AEP Energy Partners, AEP OnSite Partners, and AEP Renewables, which provide innovative competitive energy solutions nationwide. For more information, visit aep.com.

 

 

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SOURCE American Electric Power

FAQ

What is the new dividend amount for AEP shareholders?

The new dividend amount for AEP shareholders is 74 cents per share.

When will AEP's dividend be paid?

AEP's dividend will be paid on December 10, 2020.

What is the record date for AEP's dividend?

The record date for AEP's dividend is November 10, 2020.

How often does AEP pay dividends?

AEP pays dividends quarterly.

What is AEP's history of dividend payments?

AEP has paid dividends every quarter since 1910.