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Oct. 19, 2021, 11:21 a.m. EDT

American Electric Power raises dividend, to boost implied yield to over 3.7%

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By Tomi Kilgore

Shares of American Electric Power Co. Inc. /zigman2/quotes/209801263/composite AEP -0.42% rose 0.6% in morning trading Tuesday, after the Ohio-based electricity transmission company said it raised its cash dividend by 5.4%. The new quarterly dividend of 78 cents a share, up from 74 cents, will be payable Dec. 10 to shareholders of record on Nov. 10. At current stock price, the new annual dividend rate implies a dividend yield of 3.74%, which compares with the SPDR Utilities Select Sector ETF's /zigman2/quotes/206645117/composite XLU +0.13% yield of 3.01% and the implied yield for the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.10% of 1.34%. American Electric's stock has edged up 0.3% year to date, while the utilities ETF has gained 4.8% and the S&P 500 has rallied 20.2%.

/zigman2/quotes/209801263/composite
US : U.S.: Nasdaq
$ 89.92
-0.38 -0.42%
Volume: 2.36M
Jan. 20, 2022 4:00p
P/E Ratio
18.87
Dividend Yield
3.47%
Market Cap
$45.48 billion
Rev. per Employee
$964,943
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/zigman2/quotes/206645117/composite
US : U.S.: NYSE Arca
$ 68.97
+0.09 +0.13%
Volume: 14.76M
Jan. 20, 2022 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,482.73
-50.03 -1.10%
Volume: 2.54B
Jan. 20, 2022 4:55p
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