KANSAS CITY, Mo., Feb 08, 2011 (BUSINESS WIRE) --
Great Plains Energy Incorporated (NYSE: GXP) today announced that its
Board of Directors approved a quarterly dividend of $0.2075 per share on
its common stock. This action continues Great Plains Energy's indicated
annual dividend level of $0.83 per share. The common dividend will be
payable March 21, 2011 to shareholders of record as of February 28,
2011. The shares will begin to trade ex-dividend on February 24, 2011.
The Board of Directors also declared regular dividends on the
Company's 3.80%, 4.20%, 4.35% and 4.50% series of preferred stock,
payable June 1, 2011 to shareholders of record as of May 10, 2011. The
shares will begin to trade ex-dividend on May 6, 2011.
About The Companies:
Headquartered in Kansas City, Mo., Great Plains Energy Incorporated is
the holding company of Kansas City Power & Light Company and KCP&L
Greater Missouri Operations Company, two of the leading regulated
providers of electricity in the Midwest. Kansas City Power & Light and
KCP&L Greater Missouri Operations use KCP&L as a brand name. More
information about the companies is available on the Internet at: www.greatplainsenergy.com
or www.kcpl.com.
Forward-Looking Statements
Statements made in this release that are not based on historical facts
are forward-looking, may involve risks and uncertainties, and are
intended to be as of the date when made. Forward-looking statements
include, but are not limited to, the outcome of regulatory proceedings,
cost estimates of capital projects and other matters affecting future
operations. In connection with the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, Great Plains Energy and Kansas
City Power & Light Company (KCP&L) are providing a number of important
factors that could cause actual results to differ materially from the
provided forward-looking information. These important factors include:
future economic conditions in regional, national and international
markets and their effects on sales, prices and costs, including but not
limited to possible further deterioration in economic conditions and the
timing and extent of any economic recovery; prices and availability of
electricity in regional and national wholesale markets; market
perception of the energy industry, Great Plains Energy and KCP&L changes
in business strategy, operations or development plans; effects of
current or proposed state and federal legislative and regulatory actions
or developments, including, but not limited to, deregulation,
re-regulation and restructuring of the electric utility industry;
decisions of regulators regarding rates the companies can charge for
electricity; adverse changes in applicable laws, regulations, rules,
principles or practices governing tax, accounting and environmental
matters including, but not limited to, air and water quality; financial
market conditions and performance including, but not limited to, changes
in interest rates and credit spreads and in availability and cost of
capital and the effects on nuclear decommissioning trust and pension
plan assets and costs; impairments of long-lived assets or goodwill;
credit ratings; inflation rates; effectiveness of risk management
policies and procedures and the ability of counterparties to satisfy
their contractual commitments; impact of terrorist acts; increased
competition including, but not limited to, retail choice in the electric
utility industry and the entry of new competitors; ability to carry out
marketing and sales plans; weather conditions including, but not limited
to, weather-related damage and their effects on sales, prices and costs;
cost, availability, quality and deliverability of fuel; ability to
achieve generation goals and the occurrence and duration of planned and
unplanned generation outages; delays in the anticipated in-service dates
and cost increases of additional generating capacity and environmental
projects; the inherent risks associated with the ownership and operation
of a nuclear facility including, but not limited to, environmental,
health, safety, regulatory and financial risks; workforce risks,
including, but not limited to, increased costs of retirement, health
care and other benefits; the timing and amount of resulting synergy
savings from the GMO acquisition; the impact of the Dodd-Frank Wall
Street Reform and Consumer Protection Act and associated regulations;
and other risks and uncertainties.
This list of factors is not all-inclusive because it is not possible to
predict all factors. Other risk factors are detailed from time to time
in Great Plains Energy's and KCP&L's quarterly reports on Form 10-Q and
annual report on Form 10-K filed with the Securities and Exchange
Commission. Each forward-looking statement speaks only as of the date of
the particular statement. Great Plains Energy and KCP&L undertake no
obligation to publicly update or revise any forward-looking statement,
whether as a result of new information, future events or otherwise.
SOURCE: Great Plains Energy Incorporated
Great Plains Energy Contacts:
Investors:
Tony Carreño, Director Investor Relations, 816-654-1763
anthony.carreno@kcpl.com
or
Media:
Katie McDonald, Director of Corporate Communications, 816-556-2365
katie.mcdonald@kcpl.com
