On October 25, 2022, American Electric Power Company (AEP) announced that it will increase its quarterly dividend by 6.4 percent to 83 cents per share in 2022. This marks the 13th consecutive year of annual dividend increases by the utility holding company. Last year AEP announced a dividend hike of 5.7%.
The next AEP dividend is payable December 9, 2022, to shareholders of record as of November 10, 2022. A new annual rate of $3.32 per share yields 3.8% at a stock price of $88.
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.