American Electric Power Increases Quarterly Dividend To 62 Cents A Share

COLUMBUS, Ohio, Oct. 24, 2017 /PRNewswire/ -- The Board of Directors of American Electric Power Co. (NYSE: AEP) today declared a regular quarterly cash dividend of 62 cents a share on the company's common stock, an increase of 5.1 percent from the previous 59 cents a share. AEP last increased its dividend in October 2016.

The dividend is payable Dec. 8, 2017, to shareholders of record as of Nov. 10, 2017, and is the company's 430th consecutive quarterly common stock cash dividend. AEP has paid a cash dividend on its common stock every quarter since July 1910.

"Our long-term strategy to focus investments in our regulated businesses continues to drive shareholder value as we improve service to our customers," said Nicholas K. Akins, AEP chairman, president and chief executive officer. "We're pleased that the ongoing success of our business strategy is reflected in 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 more than 17,000 employees operate and maintain the nation's largest electricity transmission system and more than 224,000 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 33,000 megawatts of diverse generating capacity, including 4,200 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 and east Texas). AEP also owns AEP Energy, AEP Energy Partners, AEP OnSite Partners, and AEP Renewables, which provide innovative competitive energy solutions nationwide.

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SOURCE American Electric Power