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