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Press release from Business Wire

Pinnacle West Declares Quarterly Dividend

Tuesday, June 22, 2010

Pinnacle West Declares Quarterly Dividend17:28 EDT Tuesday, June 22, 2010 PHOENIX (Business Wire) -- 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 September 1, 2010, to shareholders of record on August 2, 2010. Pinnacle West is a Phoenix-based company with consolidated assets of about $12 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.