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Press release from Business Wire

Pinnacle West Declares Quarterly Dividend

Wednesday, June 20, 2012

Pinnacle West Declares Quarterly Dividend16:30 EDT Wednesday, June 20, 2012 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 4, 2012, to shareholders of record on August 1, 2012. Pinnacle West Capital, an energy holding company based in Phoenix, has consolidated assets of about $13.2 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 Corp.Media Contact:Dan Wool, 602-250-3127Analyst Contact:Rebecca Hickman, 602-250-5668Website: pinnaclewest.com