American Electric Power Company, Inc. (NYSE:AEP) declared quarterly dividend of $ 0.74 per share, or $ 2.96 annualized.
The dividend will be payable on December 10, 2020, to stockholders of record on November 10, 2020, with an ex-dividend date of November 9, 2020.
Nicholas K. Akins, AEP chairman, president and chief executive officer, AEP remains focused on delivering reliable, affordable and clean energy to our customers, while providing value to our shareholders. AEP has paid a cash dividend on its common stock every quarter since 1910, and we are pleased our strategic business decisions continue to provide increased returns to our shareholders.
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American Electric Power Company, Inc. recently reported second quarter financial results on August 6, 2020, before market open, the Columbus based company revealed income for the second quarter of $ 1.08 per share, from the revenue of $ 3,500.00 million. The quarterly earnings improved 8.00 percent while revenues lowered 2.78 percent compared with the same quarter last year.
According to street consensus, AEP was expected to report 2Q20 income of $ 1.06 per share from revenue of $ 3872.06 million. The bottom line results beat street analysts by $ 0.02 or 1.89 percent, at the same time, top line results fell short of analysts by $ 372.06 million or 9.61 percent.
Shares of American Electric Power Company, Inc. traded low $ -0.31 or -0.34 percent on Tuesday, reaching $ 90.97 with volume of 2.52 million shares. The stock opened positive for the day at $ 91.90, after closing the previous day trading at $ 91.28.
According to the previous trading day, closing price of $ 91.28, representing a 40.13 % increase from the 52 week low of $ 65.14 and a 13.04 % decrease over the 52 week high of $ 104.97.
The company has a market capital of $ 45.14 billion and is part of the Utilities sector and Utilities – Regulated Electric industry.
American Electric Power Company, Inc., an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources. It also supplies and markets electric power at wholesale to other electric utility companies, rural electric cooperatives, municipalities, and other market participants.