AMERICAN ELECTRIC POWER COMPANY, INC. By Colin Kellaher
American Electric Power Co. on Tuesday said its board raised the quarterly dividend by 5.4%, to 78 cents from 74 cents.
The new payout, equal to $3.12 a year, represents an annual yield of about 3.76% based on Monday's closing price of $82.99, up from about 3.57%.
The Columbus, Ohio, utility holding company said the increased dividend is payable Dec. 10 to shareholders of record Nov. 10.
AEP said the increase is in line with its 5% to 7% operating earnings growth range.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
10-19-21 1128ET
