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Posted: Friday, 26 April 2013 10:30AM

AEP Q1 Earnings Down

A utility that serves a large portion of the listening area says it first quarter earnings are lower compared to a year ago. American Electric Power's Generally Accepted Accounting Principles or GAAP is at $363-million or 75-cents per share, down from $389-million or 80-cents per share in quarter one of 2012. The companies quarterly dividend did increase though, 4.3%, it's now at 49-cents per share. AEP says first quarter operating earnings were $24-million, or 5-cents high than GAAP earnings due to a $30-million reversal of a storm cost deferral from a change in Virginia law.

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