American Electric Power Company (AEP) will raise its quarterly dividend by 8.1 percent to $0.67 per share in the fourth quarter of 2018. This will mark the 9th consecutive year of annual dividend increases by the utility holding company.

The increased dividend will be paid on December 10, 2018, to shareholders of record as of November 9, 2018, and is the company's 434th consecutive quarterly common stock cash dividend by AEP. The ex-date for this next dividend of 67 cents will be one or 2 days before the record date.

"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."

The new annualized equivalent dividend rate of $2.68 per share for AEP yields 3.6% at a stock price of $73.44.

American Electric Power Company, Inc. (AEP) is an electric utility company. 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. AEP has paid a cash dividend on its common stock every quarter since July 1910.