COLUMBUS, Ohio, Oct. 23, 2018 /PRNewswire/ -- The Board of Directors of American Electric Power Co. (NYSE: AEP) today declared a regular quarterly cash dividend of 67 cents a share on the company's common stock, an increase of 8.1 percent from the previous 62 cents a share. AEP last increased its dividend in October 2017.
The dividend is payable Dec. 10, 2018, to shareholders of record as of Nov. 9, 2018, and is the company's 434th consecutive quarterly common stock cash dividend. AEP has paid a cash dividend on its common stock every quarter since July 1910.
"Our strategy to focus investments in our regulated businesses continues to benefit both our customers and our shareholders," said Nicholas K. Akins, AEP chairman, president and chief executive officer. "Thanks to the efforts of our employees and their commitment to innovation and continuous improvement, we are pleased to provide increased returns to our valued investors as we mark 108 years of consecutive quarterly dividends."
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 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 4,300 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.
SOURCE American Electric Power