By Stephen Nakrosis
American Electric Power Co. on Tuesday said its board approved an increase in the company's quarterly dividend, raising it by four cents to 74 cents a share.
"The increase is in line with the company's 5% to 7% operating earnings growth range," American Electric Power said.
The dividend will be payable on Dec. 10 to stockholders of record as of Nov. 10, the company said.
Nicholas K. Akins, the company's chairman, president and chief executive, said "AEP has paid a cash dividend on its common stock every quarter since 1910, and we're pleased our strategic business decisions continue to provide increased returns to our shareholders."
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(END) Dow Jones Newswires