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July 19, 2022

AEP Declares Quarterly Dividend on Common Stock

COLUMBUS, Ohio, July 19, 2022 – The Board of Directors of American Electric Power Co. (Nasdaq: AEP) today declared a regular quarterly cash dividend of 78 cents a share on the company’s common stock.

The dividend is payable Sept. 9, 2022, to shareholders of record as of Aug. 10, 2022, and is the company’s 449th consecutive quarterly common stock cash dividend. AEP has paid a cash dividend on its common stock every quarter since July 1910.

American Electric Power, based in Columbus, Ohio, is powering a cleaner, brighter energy future for its customers and communities. AEP’s approximately 16,700 employees operate and maintain the nation’s largest electricity transmission system and more than 224,000 miles of distribution lines to safely deliver reliable and affordable power to 5.5 million regulated customers in 11 states. AEP also is one of the nation’s largest electricity producers with approximately 31,000 megawatts of diverse generating capacity, including more than 7,100 megawatts of renewable energy. The company’s plans include growing its renewable generation portfolio to approximately 50% of total capacity by 2030. AEP is on track to reach an 80% reduction in carbon dioxide emissions from 2000 levels by 2030 and has committed to achieving net zero by 2050. AEP is recognized consistently for its focus on sustainability, community engagement, and diversity, equity and inclusion. 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, east Texas and the Texas Panhandle). AEP also owns AEP Energy, which provides innovative competitive energy solutions nationwide. For more information, visit aep.com.

WEBSITE DISCLOSURE

AEP may use its website as a distribution channel for material company information. Financial and other important information regarding AEP is routinely posted on and accessible through AEP’s website at https://www.aep.com/investors. In addition, you may automatically receive email alerts and other information about AEP when you enroll your email address by visiting the “Email Alerts” section at https://www.aep.com/investors.

Other News Releases

October 04, 2022

AEP Shares Updates on Strategic Initiatives, Highlights Planned Capital Investments in Renewables and Energy Grid

  • 2022 operating earnings guidance narrowed to $4.97-$5.07 per share and midpoint raised to $5.02; 2023 operating earnings guidance range of $5.19 to $5.39 announced
  • Emission reduction targets accelerated, including new net zero goal by 2045 and 80% reduction in full Scope 1 emissions by 2030 from 2005 baseline
  • Strategic review of retail energy business will begin; company on track to divest unregulated renewable assets and complete Kentucky sale

American Electric Power  plans to invest in its regulated businesses, accelerate its carbon reduction targets and streamline the business to drive value for customers, communities and investors. AEP leadership will share the company’s financial plan and strategy with analysts in New York City today. The presentation will be webcast live at 1:30 p.m. ET at https://aep.com/investors/events.

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September 30, 2022

AEP and Liberty Reach Amended Agreement on Sale of Kentucky Operations

American Electric Power has signed an amended agreement on the sale of its Kentucky operations to Liberty and expects to close on the sale in January 2023 following approval of the transaction from the Federal Energy Regulatory Commission (FERC), which is due by Dec. 16. The amendment has no impact on AEP’s planned equity needs or operating earnings guidance.

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