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KANSAS CITY POWER & LIGHT DECLARES COMMON STOCK DIVIDEND; REDEEMS BONDS

 KANSAS CITY POWER & LIGHT DECLARES COMMON STOCK DIVIDEND;
 REDEEMS BONDS
 KANSAS CITY, Mo., Aug. 4 /PRNewswire/ -- Today, Kansas City Power & Light Co. (NYSE: KLT) announced that its board of directors continued the indicated annual level of dividends at $1.44 by declaring a quarterly dividend of 36 cents per share on its common stock payable Sept. 21, 1992, to stockholders of record on Aug. 28, 1992. The board declared regular dividends on the preferred stock, payable Dec. 1, 1992, to shareholders of record on Nov. 6, 1992. A quarterly dividend of 3.347 percent was declared payable Sept. 1, 1992, for the holders of record as of Aug. 31, 1992, of the company's Cumulative No Par Preferred Stock, Auction Series A. The board of directors also authorized the redemption of the company's First Mortgage Bonds, 9 1/4 percent Series due 2008, on Sept. 9, 1992, at par value.
 Kansas City Power & Light's second quarter 1992 earnings per average common share were 33 cents compared with 44 cents last year. Earnings per average common share for the 12 months ended June 30, 1992, decreased to $1.34 from $1.73 for the like period a year ago. Twelve month earnings reflect costs attributable to a forced outage at Wolf Creek in the first quarter of 1992 and the extended 1991 refueling and maintenance outage.
 "The earnings for the current three month and twelve month periods reflect unseasonably cool 1992 summer weather," explained Bernard J. Beaudoin, KCPL's vice president-finance and chief financial officer. "This was the coolest second quarter since 1961 and that is in contrast to last year which was the warmest quarter since 1952. The cool weather has continued into the month of July," he added.
 Second quarter operating revenues were $196.5 million, compared to $208.6 million for the like period a year ago. For the 12 months ended June 30, 1992, revenues were down 2.3 percent to $811.2 million from $830.0 million a year earlier.
 Retail kwh sales decreased 8.0 percent for the quarter but increased 0.1 percent for the 12 month period.
 Second quarter 1992 earnings available for common stock were $20.5 million compared to $27.3 million for the like period a year ago. Earnings available for common stock for 12 months totaled $82.7 million, compared to $107.1 million during the previous 12 month period.
 Kansas City Power & Light provides electric service to about 415,000 customers in a 4,700 square-mile area in eastern Kansas and western Missouri, including metropolitan Kansas City.
 KANSAS CITY POWER & LIGHT CO.
 Financial - Results Of Operations
 (In thousands)
 Three Months Ended
 June
 1992 1991
 Operating revenues(a) $196,505 $208,575
 Retail MWH sales
 Increase/(decrease)pct. 2,564,621 (8.0)pct. 2,788,592
 Net income $21,335 $28,833
 Preferred dividends $822 $1,582
 Earnings available for common $20,513 $27,251
 Average shares outstanding(b) 61,909 61,909
 Earnings per share(b) $.33 $.44
 Year-to-Date
 June
 1992 1991
 Operating revenues(a) $376,527 $390,426
 Retail MWH sales
 Increase/(decrease)pct. 5,050,560 (3.3)pct. 5,221,746
 Net income $29,656 $46,561
 Preferred dividends $1,418 $3,171
 Earnings available for common $28,238 $43,390
 Average shares outstanding(b) 61,909 61,909
 Earnings per share(b) $.46 $.70
 Twelve Months Ended
 June
 1992 1991
 Operating revenues(a) $811,202 $830,020
 Retail MWH sales
 Increase/(decrease)pct. 10,881,082 .1pct. 10,869,573
 Net income $86,988 $113,446(c)
 Preferred dividends $4,270 $6,351
 Earnings available for common $82,718 $107,095(c)
 Average shares outstanding(b) 61,909 61,908
 Earnings per share(b) $1.34 $1.73(c)
 (a) 1991 Operating Revenues have been restated to reflect the inclusion of Bulk Power Sales.
 (b) Reflects the two-for-one common stock split approved by the shareholders on May 5, 1992.
 (c) Includes a 13 cent per share reduction due to the December 1990 terminated tender offer.
 -0- 8/4/92
 /CONTACT: Bernie Beaudoin, 816-556-2543 or Robert Levesque, 816-556-2312, both of Kansas City Power & Light/
 (KLT) CO: Kansas City Power & Light Co. ST: Missouri IN: UTI SU: ERN


MC-BB -- DV007 -- 6671 08/04/92 12:46 EDT
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Date:Aug 4, 1992
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