COLUMBUS, Ohio, Oct. 25, 2016 /PRNewswire/ -- The Board of
Directors of American Electric Power Co. (NYSE: AEP) today declared
a regular quarterly cash dividend of 59
cents a share on the company's common stock, increasing the
dividend 5.4 percent from the previous 56
cents a share. AEP last increased its dividend in
October 2015.
The dividend is payable Dec. 9,
2016, to shareholders of record as of Nov. 10, 2016. AEP has paid a cash dividend on
its common stock every quarter since July
1910.
"This dividend increase reflects our confidence in growing
shareholder value through our regulated business strategy," said
Nicholas K. Akins, AEP chairman,
president and chief executive officer. "Our dividend has grown 20
percent over the past five years, thanks to the hard work of our
employees and their focus on continuous improvement. We are pleased
to continue AEP's tradition of delivering strong financial results
and rewarding our investors with a dividend for the 426th
consecutive quarter."
American Electric Power is one of the largest electric utilities
in the United States, delivering
electricity and custom energy solutions to nearly 5.4 million
customers in 11 states. AEP owns the nation's largest electricity
transmission system, a more than 40,000-mile network that includes
more 765-kilovolt extra-high voltage transmission lines than all
other U.S. transmission systems combined. AEP also operates 224,000
miles of distribution lines. AEP ranks among the nation's largest
generators of electricity, owning approximately 31,000 megawatts of
generating capacity in the U.S. AEP also supplies 3,200 megawatts
of renewable energy to customers. AEP's utility units operate as
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 and east Texas). AEP's headquarters are in Columbus, Ohio.
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SOURCE American Electric Power