American Electric Power Company, Inc.
AEPUtilities · Utilities - Regulated Electric · Stock · quarterly payer
Forward Yield
3.00%
Annual Dividend
$3.88
Payout Ratio
66%
5-Yr Growth
5.7%
Ex-Date
Nov 10, 2026
Frequency
Quarterly
Key facts about AEP's dividend
Data as of · Source: SmarterDividends data
- As of Oct 28, 2026, American Electric Power Company, Inc. (AEP) has a forward dividend yield of 3.00%, based on an annual dividend of $3.88 per share and a share price of $130.30.
- As of Oct 28, 2026, AEP's dividend safety grade from SmarterDividends is A (88 out of 100), which rates the dividend as very safe.
- By SmarterDividends' count, American Electric Power Company, Inc. (AEP) has raised its dividend for 16 consecutive years as of Oct 28, 2026.
- AEP last cut its regular dividend in 2003.
- AEP's next ex-dividend date is Nov 10, 2026, with payment on Dec 10, 2026. Shares must be owned before that date to receive the dividend.
- As of Oct 28, 2026, AEP pays out 66% of its trailing 12-month earnings as dividends (its payout ratio).
- AEP's dividend has grown at an average rate of 5.7% a year over the past five years.
- As of Oct 28, 2026, AEP's 3.00% yield is 17% below its five-year average yield of 3.63%.
- As of Oct 28, 2026, SmarterDividends' blended fair-value estimate for AEP is $190.48 per share, 46% above the $130.30 share price, so AEP screens as undervalued.
- American Electric Power Company, Inc. (AEP) pays its dividend quarterly, 4 times a year.
- American Electric Power Company, Inc. (AEP) has raised its regular dividend 32 times and cut it 3 times across the 224 payments on record since 1970. Its most recent change was a 2.2% increase to $0.950 per share, going ex-dividend on Nov 10, 2025. The last cut went ex-dividend on May 7, 2003.
- American Electric Power (AEP) has declared its first higher dividend of the year in October in 5 of the last 5 years; its most recent raise, 2.2%, was declared on Oct 22, 2025.
Cite this page
SmarterDividends, "AEP Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 28, 2026, https://smarterdividends.com/stocks/AEP
Summary
As of Oct 28, 2026, American Electric Power Company, Inc. (AEP) yields 3.00% ($3.88 a year per share), has a dividend safety grade of A (88/100) and has 16 consecutive years of dividend increases on record.
Is AEP a good dividend stock?
YesAmerican Electric Power Company, Inc. (AEP) pays a quarterly dividend yielding 3.00% ($3.88/yr), with 16 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Advantages
- 16 consecutive years of dividend growth
- Strong 5.7% 5-yr dividend growth
- 60% total price return over 5 years
- Top-tier dividend safety score
Risks
- Cut its dividend in 2003
Key Data
- Dividend Yield
- 3.00%
- Payout Ratio
- 66%
- Annual Dividend
- $3.88
- 5-Yr Avg Growth
- 5.7%
- Ex-Dividend Date
- Nov 10, 2026
- Years of Growth
- 16
- Frequency
- quarterly
- Beta
- 0.47
- Market Cap
- $70.9B
- P/E Ratio
- 22.6
- 5-Yr Total Return
- 60%
- 52-Week Range
- $112.54 – $140.58
- Dividend Safety
- A · 88/100
- Ever Cut?
- Yes (2003)
AEP dividend raises and cuts
American Electric Power Company, Inc. (AEP) has raised its regular dividend 32 times and cut it 3 times across the 224 payments on record since 1970. Its most recent change was a 2.2% increase to $0.950 per share, going ex-dividend on Nov 10, 2025. The last cut went ex-dividend on May 7, 2003.
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Nov 10, 2025 | Raise | $0.930 → $0.950 | +2.2% |
| Nov 8, 2024 | Raise | $0.880 → $0.930 | +5.7% |
| Nov 9, 2023 | Raise | $0.830 → $0.880 | +6.0% |
| Nov 9, 2022 | Raise | $0.780 → $0.830 | +6.4% |
| Nov 9, 2021 | Raise | $0.740 → $0.780 | +5.4% |
| Nov 9, 2020 | Raise | $0.700 → $0.740 | +5.7% |
| Nov 7, 2019 | Raise | $0.670 → $0.700 | +4.5% |
| Nov 8, 2018 | Raise | $0.620 → $0.670 | +8.1% |
| Nov 9, 2017 | Raise | $0.590 → $0.620 | +5.1% |
| Nov 8, 2016 | Raise | $0.560 → $0.590 | +5.4% |
| Nov 6, 2015 | Raise | $0.530 → $0.560 | +5.7% |
| Nov 6, 2014 | Raise | $0.500 → $0.530 | +6.0% |
Show all 35 changes since 1970
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Nov 6, 2013 | Raise | $0.490 → $0.500 | +2.0% |
| May 8, 2013 | Raise | $0.470 → $0.490 | +4.3% |
| Nov 8, 2011 | Raise | $0.460 → $0.470 | +2.2% |
| Nov 8, 2010 | Raise | $0.420 → $0.460 | +9.5% |
| May 6, 2010 | Raise | $0.410 → $0.420 | +2.4% |
| Nov 7, 2007 | Raise | $0.390 → $0.410 | +5.1% |
| Nov 8, 2006 | Raise | $0.370 → $0.390 | +5.4% |
| Nov 8, 2005 | Raise | $0.350 → $0.370 | +5.7% |
| May 7, 2003 | Cut | $0.600 → $0.350 | −41.7% |
| Aug 4, 1989 | Raise | $0.580 → $0.600 | +3.4% |
| Feb 6, 1989 | Cut | $0.592 → $0.580 | −2.0% |
| Aug 4, 1988 | Raise | $0.565 → $0.592 | +4.8% |
| Feb 4, 1981 | Raise | $0.555 → $0.565 | +1.8% |
| Nov 2, 1979 | Raise | $0.545 → $0.555 | +1.8% |
| Oct 31, 1978 | Raise | $0.530 → $0.545 | +2.8% |
| Nov 3, 1977 | Raise | $0.515 → $0.530 | +2.9% |
| Nov 4, 1976 | Raise | $0.500 → $0.515 | +3.0% |
| May 6, 1974 | Raise | $0.475 → $0.500 | +5.3% |
| Aug 6, 1973 | Raise | $0.450 → $0.475 | +5.6% |
| Nov 3, 1972 | Raise | $0.435 → $0.450 | +3.4% |
| May 4, 1972 | Cut | $0.445 → $0.435 | −2.2% |
| Feb 4, 1972 | Raise | $0.425 → $0.445 | +4.7% |
| Nov 4, 1970 | Raise | $0.410 → $0.425 | +3.7% |
Frequently Asked Questions
Is AEP a good dividend stock?
Yes. American Electric Power Company, Inc. (AEP) pays a quarterly dividend yielding 3.00% ($3.88/yr), with 16 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Is AEP undervalued?
Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, AEP's fair value is about $190.48 versus a $130.30 share price — so it looks undervalued (+46% vs. fair value).
Is AEP's dividend safe?
AEP has a dividend-safety grade of A (88/100), based on its payout coverage, free-cash-flow, 16-year growth streak, a dividend cut in 2003, debt and yield-versus-history.
What is AEP's fair value?
Our blended fair-value estimate for AEP is about $190.48 per share, roughly 46% above the current $130.30 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.
Is AEP a buy, hold, or sell?
We don't issue formal ratings, but on the data AEP screens as "yes" and undervalued. American Electric Power Company, Inc. (AEP) pays a quarterly dividend yielding 3.00% ($3.88/yr), with 16 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding. This is research for your own analysis, not investment advice.
Will AEP cut its dividend?
AEP earns a dividend-safety grade of A (88/100), and has cut its dividend before (last in 2003). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.
Does AEP pay a dividend?
Yes. American Electric Power Company, Inc. pays a quarterly dividend of about $3.88 per share annually, a forward yield of roughly 3.00%.
What is AEP's dividend yield?
As of Oct 28, 2026, AEP's forward dividend yield is 3.00%, based on a $3.88 annual dividend and a $130.30 share price.
What is AEP's dividend per share?
As of Oct 28, 2026, AEP pays $3.88 per share per year, distributed on a quarterly basis.
What is AEP's dividend payout ratio?
As of Oct 28, 2026, AEP's payout ratio is 66% of trailing 12-month earnings — a moderate level that's generally sustainable.
How many years has AEP grown its dividend?
As of Oct 28, 2026, AEP has increased its dividend for 16 consecutive years.
When is the next AEP ex-dividend date?
As of Oct 28, 2026, the next ex-dividend date on record for AEP is Nov 10, 2026.
AEP Price — Last 12 Months
Daily close
Price Return
1 Year
+5%
3 Years
+63%
5 Years
+60%
52-Week Range
$112.54 – $140.58
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is AEP worth?
Undervaluedmedium confidenceOur blended fair-value estimate for American Electric Power Company, Inc. is $190.48 per share, versus a market price of $130.30. That implies 46% of upside — a margin of safety of about 32%.
Fair Value
$190.48
Current Price
$130.30
Upside
+46%
Margin of Safety
32%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about 2.0% annual free-cash-flow growth. We model 10.2% — below our estimate, leaving room for upside if the business executes.
Assumptions: 8.0% discount rate (CAPM), 10.2% growth for five years fading to 2.5% over the next five, $5.77 EPS, $3.88 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
AEP Dividend Safety Score
Very Safe
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
Full AEP dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Aug 10, 2026 | Sep 10, 2026 | $0.9500 | regular |
| May 8, 2026 | Jun 10, 2026 | $0.9500 | regular |
| Feb 10, 2026 | Mar 10, 2026 | $0.9500 | regular |
| Nov 10, 2025 | Dec 10, 2025 | $0.9500 | regular |
| Aug 8, 2025 | Sep 10, 2025 | $0.9300 | regular |
| May 9, 2025 | Jun 10, 2025 | $0.9300 | regular |
| Feb 10, 2025 | Mar 10, 2025 | $0.9300 | regular |
| Nov 8, 2024 | Dec 10, 2024 | $0.9300 | regular |
| Aug 9, 2024 | Sep 10, 2024 | $0.8800 | regular |
| May 9, 2024 | Jun 10, 2024 | $0.8800 | regular |
| Feb 8, 2024 | Mar 8, 2024 | $0.8800 | regular |
| Nov 9, 2023 | Dec 8, 2023 | $0.8800 | regular |
| Aug 9, 2023 | Sep 8, 2023 | $0.8300 | regular |
| May 9, 2023 | Jun 9, 2023 | $0.8300 | regular |
Income Calculator
At $3.88 / yr per share
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