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 December 1, 2010, to shareholders of record on November 1, 2010.

In addition, Pinnacle West plans to release its 2010 third-quarter results on Thursday, October 28, 2010. That same day at 12:00 noon (ET), the Company invites interested parties to listen to a live webcast of management’s conference call to discuss results and recent developments.

The webcast can be accessed at www.pinnaclewest.com/presentations and will be available for replay on the website for 30 days. To access the live conference call by telephone, dial (877) 407-8035 or (201) 689-8035 for international callers. A replay of the call also will be available until 11:55 p.m. (ET), Wednesday, November 3, 2010, by calling (877) 660-6853 in the U.S. and Canada or (201) 612-7415 internationally and entering account number 286, followed by Conference ID number 358822.

Pinnacle West is a Phoenix-based company with consolidated assets of about $12.2 billion. 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.

Contacts

Media:
Alan Bunnell, (602) 250-3376

Analyst:
Rebecca Hickman, (602) 250-5668