CORRECTED -- Westar Energy Announces Redemption of 7.875% Cumulative Preferred Securities; Cash on Hand to Be Used for Redemption; Redemption Date is April 16, 2004.Energy Editors/Business Editors TOPEKA, Kan.--(BUSINESS WIRE)--March 18, 2004 Westar Energy, Inc. (NYSE NYSE See: New York Stock Exchange : WR) today announced that it will redeem its entire issue of Western Resources Capital I 7.875% Cumulative Quarterly Income Preferred Securities, Series A (QUIPS QUIPS See Quarterly Income Preferred Securities (QUIPS). ) at par. The QUIPS are identified by ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors WRPRA and CUSIP number CUSIP Number An identification number assigned to all stocks and registered bonds. The Committee on Uniform Securities Identification Procedures (CUSIP) oversees the entire CUSIP system. Notes: This system is used in the U.S. and Canada. 959423203. The redemption date is April 16, 2004, and the redemption agent will be Wilmington Trust Company. The redemption price Redemption price See: Call price redemption price 1. The price at which an open-end investment company will buy back its shares from the owners. In most cases, the redemption price is the net asset value per share. 2. per share is $25.00 plus accrued distributions of $0.0820313. The principal amount of the entire series is $100 million. The principal and distributions accrued to the redemption date will be paid on April 16, 2004, from the company's available cash. The regular quarterly distribution in the amount of $0.4921875 per share will be paid on March 31 to record holders as of March 30. (Eds. Note - Corrects release issued March 17, 2004, by deleting reference to April 15 record date.) Westar Energy, Inc. is Kansas' largest electric energy provider, serving more than 644,000 customers. Westar Energy employs about 2,000 people. The company has total assets of approximately $5.7 billion. Westar Energy has nearly 6,000 megawatts of electric generation capacity and operates and coordinates more than 34,000 miles of electric distribution and transmission lines. For more information about Westar Energy, visit us on the Internet at http://www.wr.com. |
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