Pinnacle West Declares Quarterly Dividend; Announces First-Quarter Conference


PHOENIX – Pinnacle West Capital Corporation’s (NYSE: PNW) Board of Directors today declared a quarterly dividend of $0.525 per share of common stock, payable on June 1, 2010, to shareholders of record on May 3, 2010.

In addition, Pinnacle West plans to release its 2010 first-quarter results on Thursday, May 6, 2010. That same day at 12 noon (ET), the Company invites interested parties to listen to a live web cast of management’s conference call to discuss results and recent developments.

The web cast can be accessed at and will be available for replay on the web site for 30 days. To access the live conference call by telephone, dial (877) 356-3961 and enter Conference ID 66015030. A replay of the call also will be available until 11:55 p.m. (ET), Thursday, May 13, 2010, by calling (800) 642-1687 in the U.S. and Canada or (706) 645-9291 internationally and entering the same Conference ID number as above.

Pinnacle West is a Phoenix-based company with consolidated assets of about $12billion. Through its subsidiaries, the Company generates, sells and delivers electricity and sells energy-related products and services to retail and wholesale customers in the western United States.


Alan Bunnell, (602) 250-3376

Rebecca Hickman, (602) 250-5668

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