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In this paper, a new power divider concept, which provides high flexibility of transmission line characteristic impedance and port impedance, is proposed. This power divider is implemented on a parallel-strip line, which is a balanced transmission line. By implementing the advantages and uniqueness of the parallel-strip line, the divider outperforms the conventional divider in terms of isolation bandwidths. A swap structure of the two lines of the parallel-strip line is employed in this design, which is critical for the isolation enhancements. A lumped-circuit model of the parallel-strip swap including all parasitic effects has been analyzed. An equal power divider with center frequency of 2 GHz was designed to demonstrate the idea. The experimental results show that the equal power divider has 96.5% - 19-dB impedance bandwidth with more than 25-dB isolation and less than 0.7-dB insertion loss. In order to generalize the concept with an arbitrary power ratio, we also realize unequal power dividers with the same isolation characteristics. The impedance bandwidth of the proposed power divider will increase with the dividing ratio, which is opposite to the conventional Wilkinson power divider. Unequal dividers with dividing ratios of 1 :2 and 1 : 12 are designed and measured. Additionally, a frequency independent 180° power divider has been realized with less than 2° phase errors. [ABSTRACT FROM AUTHOR]