October 22, 2024
AEP Increases Quarterly Dividend to 93 Cents a Share
COLUMBUS, Ohio, Oct. 22, 2024 – The Board of Directors of American Electric Power Co. (Nasdaq: AEP) today declared a regular quarterly cash dividend of 93 cents a share on the company’s common stock, an increase of 5 cents per share.
The dividend is payable Dec. 10, 2024, to shareholders of record as of Nov. 8, 2024, and is the company’s 458th consecutive quarterly common stock cash dividend. AEP has paid a cash dividend on its common stock every quarter since July 1910.
“AEP is strengthening our operations to deliver reliable, affordable energy for customers and results for investors," said Bill Fehrman, AEP president and chief executive officer. “Our nearly 115-year history of consecutive quarterly dividends reflects this commitment to providing consistent value to our shareholders. We are proud to continue this tradition while remaining focused on our strategy to enhance service for customers.”
About AEP
At American Electric Power, based in Columbus, Ohio, we understand that our customers and communities depend on safe, reliable and affordable power. Our nearly 16,000 employees operate and maintain more than 40,000 miles of transmission lines, the nation's largest electric transmission system, and more than 225,000 miles of distribution lines to deliver power to 5.6 million customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 29,000 megawatts of diverse generating capacity, including nearly 6,000 megawatts of renewable energy. AEP is investing $43 billion over the next five years to make the electric grid cleaner and more reliable. We are on track to reach an 80% reduction in carbon dioxide emissions from 2005 levels by 2030 and have a goal to achieve net zero by 2045. AEP is recognized consistently for its focus on sustainability, community engagement 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/.
Other News Releases
November 14, 2024
AEP Leveraging Fuel Cell Technology to Power Data Center Growth
This customer-focused effort is the largest utility fuel cell initiative in the country
AEP is offering large customers a custom solution to support their growing energy needs with fuel cell technology. AEP has an agreement in place to secure up to 1 gigawatt (GW) of Bloom Energy solid oxide fuel cells for data centers and other large energy users who need to quickly power their operations while the grid is built out to accommodate demand. This is the largest utility fuel cell technology initiative in the nation.
November 14, 2024
Appalachian Power Explores Small Modular Reactors to Meet Future Energy Demand In Virginia
In a major step toward securing Virginia’s reliable energy future, Appalachian Power announces plans to bring Small Modular Reactors (SMRs) to Virginia. Appalachian Power representatives identified a potential site for an SMR project on company-owned Joshua Falls property in Campbell County, Virginia, and plan to begin the Early Site Permit Application process. This site provides access to existing electrical infrastructure that is necessary for a generation project. The site includes a 765 kilovolt substation and nearby roadways can support moving the necessary equipment onsite.
November 06, 2024
AEP Reports Third-Quarter 2024 Earnings, Introduces New Growth Rate and Capital Plan
- Third-quarter 2024 GAAP earnings of $1.80 per share; operating earnings of $1.85 per share
- Narrows 2024 operating earnings (non-GAAP) guidance to $5.58 to $5.68 per share, maintaining $5.63 midpoint
- Announces new long-term growth rate of 6% to 8% based off of 2025 operating earnings guidance of $5.75 to $5.95 per share
- Expands five-year capital plan to $54 billion to support reliability and demand growth