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 19, 2010 to shareholders of record as of February 26,
2010. The shares will begin to trade ex-dividend on February 24, 2010.
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, 2010 to shareholders of record as of May 10, 2010. The
shares will begin to trade ex-dividend on May 6, 2010.
About The Companies:
Headquartered in Kansas City, Mo., Great Plains Energy Incorporated
(NYSE: GXP) 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 the Comprehensive Energy Plan and other matters
affecting future operations. In connection with the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995, the
registrants 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, KCP&L and GMO; 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 KCP&L and GMO 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 planning 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; nuclear operations; workforce risks,
including, but not limited to, retirement compensation and benefits
costs; the ability to successfully integrate KCP&L and GMO operations
and the timing and amount of resulting synergy savings; 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 most recent quarterly report on
Form 10-Q and annual report on Form 10-K filed with the Securities and
Exchange Commission. Any forward-looking statement speaks only as of the
date on which such statement is made. 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.
