COLUMBUS, Ohio, Oct. 25,
2022 /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, an increase of 5 cents per share. The increase is in line with
the company's 6% to 7% operating earnings growth range.
The dividend is payable Dec. 9,
2022, to shareholders of record as of Nov. 10, 2022. This is the company's 450th
consecutive quarterly cash dividend.
"AEP is focused on providing clean, reliable and affordable
energy to our customers and significant value to our investors,"
said Nicholas K. Akins, AEP chair
and chief executive officer. "We've paid a cash dividend on our
common stock every quarter since 1910, which is a testament to our
tradition of operational excellence. We're pleased our strategic
business decisions continue to provide increased returns to our
shareholders."
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 7,100 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
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/.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/aep-increases-quarterly-dividend-to-83-cents-a-share-301658809.html
SOURCE American Electric Power