COLUMBUS, Ohio, Oct. 19, 2021 /PRNewswire/ -- The Board of
Directors of American Electric Power Co. (Nasdaq: AEP) today
declared a regular quarterly cash dividend of 78 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,
2021, to shareholders of record as of Nov. 10, 2021, and is the company's
446th consecutive quarterly common stock cash
dividend.
"AEP continues to innovate and transform to build a brighter
energy future for the customers and communities we serve," said
Nicholas K. Akins, AEP chairman,
president and chief executive officer. "Our company's history of
strong financial performance has allowed us to pay a cash dividend
on our common stock every quarter since 1910, and we're proud to
continue this tradition of delivering increased returns to our
valued shareholders."
American Electric Power, based in Columbus, Ohio, is powering a cleaner,
brighter energy future for its customers and communities. AEP's
approximately 16,800 employees operate and maintain the nation's
largest electricity transmission system and more than 223,000 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 5,900 megawatts of renewable energy. The
company's plans include growing its renewable generation portfolio
to approximately 50% of total capacity by 2030. AEP is on track to
achieve an 80% reduction in carbon dioxide emissions from 2000
levels by 2030 and has committed to achieve net zero by 2050. 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