AEP Increases Quarterly Dividend to 49 Cents a Share

             AEP Increases Quarterly Dividend to 49 Cents a Share

PR Newswire

COLUMBUS, Ohio, April 23, 2013

COLUMBUS, Ohio, April 23, 2013 /PRNewswire/ --The Board of Directors of
American Electric Power Co. (NYSE: AEP) today declared a regular quarterly
cash dividend of 49 cents a share on the company's common stock, increasing
the dividend 4.3 percent from the previous 47 cents a share. AEP last
increased its dividend in October 2011.

The dividend is payable June 10, 2013, to shareholders of record as of May 10,
2013. AEP has paid a cash dividend on its common stock every quarter since
July 1910.

"This change reflects our continued commitment to increase shareholder value
and achieve payout ratios that are in line with our regulated peers," said
Nicholas K. Akins, AEP's president and chief executive officer. "We understand
how important strong dividends are to an investor's portfolio and are grateful
for the ongoing focus and diligence of our employees, which has allowed us to
maintain our financial strength and reward our investors with solid returns
for 412 consecutive quarters."

American Electric Power is one of the largest electric utilities in the United
States, delivering electricity to more than 5.3 million customers in 11
states. AEP ranks among the nation's largest generators of electricity, owning
nearly 38,000 megawatts of generating capacity in the U.S. AEP also owns the
nation's largest electricity transmission system, a 40,000-mile network that
includes more 765-kilovolt extra-high voltage transmission lines than all
other U.S. transmission systems combined. AEP's transmission system directly
or indirectly serves about 10 percent of the electricity demand in the Eastern
Interconnection, the interconnected transmission system that covers 38 eastern
and central U.S. states and eastern Canada, and approximately 11 percent of
the electricity demand in ERCOT, the transmission system that covers much of
Texas. AEP's utility units operate as AEP Ohio, AEP Texas, Appalachian Power
(in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana
Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and
Southwestern Electric Power Company (in Arkansas, Louisiana and east Texas).
AEP's headquarters are in Columbus, Ohio.

SOURCE American Electric Power

Contact: MEDIA CONTACT: YaVonda Ulfig, Corporate Media Relations,
614/716-1949; ANALYSTS CONTACT: Bette Jo Rozsa, Managing Director, Investor
Relations, 614/716-2840
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