COLUMBUS, Ohio, Oct. 22, 2019 /PRNewswire/ -- The Board of
Directors of American Electric Power Co. (NYSE: AEP) today declared
a regular quarterly cash dividend of 70
cents a share on the company's common stock, an increase of
3 cents per share. AEP has increased
the dividend an average of 6.3% over the past two years, in line
with its 5% to 7% earnings growth range.
The dividend is payable Dec. 10,
2019, to shareholders of record as of Nov. 8, 2019, and is the company's
438th consecutive quarterly common stock cash
dividend. AEP has paid a cash dividend on its common stock every
quarter since July 1910.
"Strategic investment in our regulated businesses, our
commitment to customer service and our pursuit of innovative energy
solutions continue to benefit both our investors and customers,"
said Nicholas K. Akins, AEP
chairman, president and chief executive officer. "We're proud to
continue AEP's tradition of delivering strong financial results and
increased returns to our valued 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
18,000 employees operate and maintain the nation's largest
electricity transmission system and more than 219,000 miles of
distribution lines to efficiently deliver safe, reliable power to
nearly 5.4 million regulated customers in 11 states. AEP also is
one of the nation's largest electricity producers with
approximately 32,000 megawatts of diverse generating capacity,
including about 5,200 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