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October 25, 2022

AEP Increases Quarterly Dividend to 83 Cents a Share

COLUMBUS, Ohio, Oct. 25, 2022 – 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/.

MEDIA CONTACT:   ANALYSTS CONTACT:
Sarah Devine
Corporate Media Relations
614/716-2011
  Darcy Reese
Vice President, Investor Relations
614/716-2614

Other News Releases

November 11, 2022

AEP to Focus Capital Investments on Regulated Businesses, Reaffirms Operating Earnings Growth Rate of 6 to 7 Percent

  • Reaffirmed 2022 operating earnings guidance range of $4.97-$5.07 per share and midpoint of $5.02; 2023 operating earnings guidance range of $5.19 to $5.39 per share
  • Five-year, $40 billion capital plan emphasizes investment in wires and renewables
  • Company’s 10-year regulated generation plan outlines nearly 15,700 MW of renewables and energy storage to meet capacity needs, manage customer affordability and support 2045 net zero target
Read more