American Electric Power Increases Quarterly Dividend From $0.83 To $0.88 Per Share
Portfolio Pulse from Benzinga Newsdesk
American Electric Power Co. (AEP) has increased its quarterly cash dividend from $0.83 to $0.88 per share, in line with the company's 6% to 7% operating earnings growth range. The dividend is payable on Dec. 8, 2023, to shareholders of record as of Nov. 10, 2023. This marks the company's 454th consecutive quarterly cash dividend. AEP is focusing on de-risking and simplifying its business to generate value for customers and investors.
October 24, 2023 | 4:41 pm
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POSITIVE IMPACT
AEP has increased its quarterly dividend, indicating a strong financial position and commitment to returning value to shareholders. This could potentially attract more investors and boost the stock price in the short term.
Dividend increases are generally seen as a positive signal by the market, indicating that a company is confident in its future earnings. This can attract more investors, leading to increased demand for the stock and potentially a rise in the stock price. Given that this is in line with AEP's earnings growth and is part of a long-standing tradition of quarterly dividends, it is highly relevant and important for AEP investors.
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IMPORTANCE 80
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