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Help celebrate 100 years of dividends and win a trip to the NYSE!

by on April 29, 2010

A Century of DividendsIn 1910, William Howard Taft began the tradition of the nation’s president throwing out the first pitch on opening day of the Major League Baseball season. The electric washing machine was patented, and Father’s Day was celebrated for the first time.

Henry Ford sold 10,000 automobiles in 1910, the population of the United States totaled 92 million, Mark Twain died, and a fledgling utility company named American Gas & Electric paid its first quarterly dividend to its shareholders. 

On April 27, 100 years later, AEP declared its 400th consecutive quarterly dividend, and you’re invited to be part of the celebration. In fact, you could win a trip to the New York Stock Exchange or shares of AEP common stock.

At the April 27 Board meeting, AEP’s Board of Directors declared a dividend to shareholders, payable June 10. This marked a milestone reached by very few companies in corporate America — AEP’s 400th consecutive quarterly dividend, issued over a span of 100 years.

To celebrate this milestone, AEP executives will ring the closing bell at the New York Stock Exchange (NYSE) on June 3 — and you can join them.

AEP’s Investor Relations group is sponsoring a contest — open to all employees and retirees — with a trip to participate in the bell-ringing ceremony at the NYSE as the grand prize. In addition, there will be 10 winners who will each receive 10 shares of AEP stock.

The contest opened at noon April 27 and ends at 11:59 p.m. May 11. One entry is allowed per person.

How do you enter? Go to http://www.aep.com/employees/dividendcontest/ to access the contest, read the rules and submit your entry. You’ll be asked to answer questions about AEP stock. Each contestant who answers all the questions correctly will have his or her name entered into a drawing for the prizes.

The 10 winners will be selected as follows: 

  • One winner from each of the seven AEP operating companies.
  • One winner from the AEP Service Corporation.
  • One winner from all other AEP operations, such as AEP River Operations, Cook Coal Terminal, Alliance Railcar Facility, etc.
  • One winner from among all AEP retirees.

 

“We want to celebrate this milestone with the employees — both past and present — who have worked so hard to make this company what it is today,” said Chuck Zebula, AEP senior vice president and treasurer.

“Income investors often seek out companies with a history of solid dividend payments, such as AEP, to be a core part of their portfolio,” Zebula said. “That’s why 100 years of dividend payments is so impressive. It’s an indication to Wall Street of management’s commitment to creating value for shareholders, as well as evidence of the company’s stability and sustainability.”

In 1906, when American Gas & Electric was formed, some 50,000 shares of common stock were issued to approximately 15 shareholders. Today, AEP has about 365,000 shareholders owning more than 478 million shares.

“Those original shareholders waited more than three years for that first quarterly dividend,” Zebula said. “It finally came on June 29, 1910, and it’s been declared quarter after quarter ever since, for 100 years.” 

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