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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 -0.95% 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 +0.18% yield of 3.01% and the implied yield for the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.18% 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
$ 80.28
-0.77 -0.95%
Volume: 3.49M
Dec. 1, 2021 4:00p
P/E Ratio
16.85
Dividend Yield
3.89%
Market Cap
$40.82 billion
Rev. per Employee
$888,080
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/zigman2/quotes/206645117/composite
US : U.S.: NYSE Arca
$ 65.89
+0.12 +0.18%
Volume: 23.01M
Dec. 1, 2021 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,513.04
-53.96 -1.18%
Volume: 3.04B
Dec. 1, 2021 5:04p
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