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AEP announces plans for dividend payout

AEP announces dividend payout

American Electric Power Co., parent company of Appalachian Power, on Tuesday announced it plans to pay a 50-cent cash dividend to shareholders later this summer.

The company will pay the dividend Sept. 10 to all shareholders of record on Aug. 8. With more than 488 million shares outstanding, the dividend payout would be about $244 million.

It is the company’s 417th consecutive quarterly dividend payment. AEP has paid a cash dividend every quarter since July 2010.

The company increased its quarterly dividend by a penny during the fourth quarter, increasing its total annual dividend payout from $1.95 to $2 a share.

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