American Electric Power raises capital plan to $78B, posts strong Q1 earnings, and boosts dividend outlook.

American Electric Power Company (AEP) reported strong Q1 results with operating EPS of $1.64 and 10.3% revenue growth, exceeding expectations. The company raised its capital expenditure plan to $78 billion through 2030, focusing on transmission, natural gas generation, and exploring an additional $10 billion in opportunities. AEP's 16-year dividend growth streak, supported by a 5.6% compound annual growth rate and a conservative payout ratio of 56%, underpins its appeal for long-term income investors. The accelerating demand for power driven by AI and data centers further supports AEP's growth outlook.