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Press release from Business Wire

Pinnacle West Declares Quarterly Dividend; Announces 2011 First-Quarter Conference Call

Wednesday, April 20, 2011

Pinnacle West Declares Quarterly Dividend; Announces 2011 First-Quarter Conference Call18:04 EDT Wednesday, April 20, 2011 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 June 1, 2011, to shareholders of record on May 2, 2011. In addition, Pinnacle West plans to release its 2011 first-quarter results on Friday, April 29, 2011. That same day at 12 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 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), Friday, May 6, 2011, 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 370849. Pinnacle West Capital, an energy holding company based in Phoenix, has consolidated assets of about $12.3 billion, more than 6,300 megawatts of generating capacity and about 6,700 employees in Arizona and New Mexico. Through its principal subsidiary, Arizona Public Service, the Company provides retail electricity service to more than 1.1 million Arizona homes and businesses. For more information about Pinnacle West, visit the Company's website at pinnaclewest.com. Pinnacle West Capital CorporationMedia Contact:Alan Bunnell, 602-250-3376Analyst Contacts:Rebecca Hickman, 602-250-5668Geoffrey Wendt, 602-250-5643Web site: pinnaclewest.com