|Bid||64.58 x 2900|
|Ask||64.74 x 2200|
|Day's Range||64.39 - 65.00|
|52 Week Range||43.44 - 71.10|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||2.86%|
|Beta (5Y Monthly)||0.41|
|Expense Ratio (net)||0.13%|
American Electric Power Co. Inc. announced Tuesday a 5.7% increase to its quarterly dividend, to 74 cents a share from 70 cents. The electricity transmission company's new dividend will be payable Dec. 10 to shareholders of record on Nov. 10. The stock slipped 0.2% to $91.12 in afternoon trading. At current prices, the new annual dividend rate implies a dividend yield of 3.25%, compared with the yield for the SPDR Utilities Select Sector ETF of 3.04% and the implied yield for the S&P 500 of 1.63%, according to FactSet. "AEP has paid a cash dividend on its common stock every quarter since 1910, and we're pleased our strategic business decisions continue to provide increased returns to our shareholders," said Chief Executive Nicholas Akins. The stock has slipped 3.6% year to date, while the utilities ETF has eased 0.9% and the S&P 500 has gained 7.6%.
Nearby support and resistance levels are making the utilities sector one to watch over the final months of 2020.
Just because buying is back doesn't mean volatility is over, as nobody knows how long the current lull in uncertainty will last.