shares of american electric power co inc ae  rose 13 in midday trading tuesday after the electricity transmission company raised its quarterly dividend by 64 to 83 cents a share from 78 cents the new dividend is payable dec 9 to shareholders of record on nov 10 based on current stock prices the new annual dividend rate implies a dividend yield of 381 which compares with the yield on the spdr utilities select sector etf xlu of 312 and with the implied yield for the sp 500 spx of 172 american electrics stock has slipped 21 year to date while the utilities etf has declined 91 and the sp 500 has shed 193