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KANSAS CITY POWER & LIGHT DECLARES COMMON STOCK DIVIDEND; REPORTS HIGHER THIRD QUARTER SALES AND REVENUES

        KANSAS CITY POWER & LIGHT DECLARES COMMON STOCK DIVIDEND;
            REPORTS HIGHER THIRD QUARTER SALES AND REVENUES
    KANSAS CITY, Mo., Nov. 5 /PRNewswire/ -- Kansas City Power & Light Co. (NYSE: KLT) today reported third quarter earnings per average common share of $1.55, compared with $1.64 for the same period a year ago.  The earnings decrease reflects lower interchange sales and increased operating expenses which include 11 days of the scheduled Wolf Creek refueling outage, partially offset by higher revenues due to a warmer cooling season and increases in load growth.
    Earnings per average common share for the 12 months ended Sept. 30, 1991, were $3.37 compared with $3.34 for same period a year ago.  The increase in 12 month earnings reflects the impact of warmer weather in the second and third quarters of 1991, increases in load growth and 11 days of the 1991 refueling of Wolf Creek versus the full 68 days of the spring 1990 refueling.  These increases were partially offset by the costs associated with the terminated tender offer in the fourth quarter of 1990.
    KCPL also announced that its board of directors declared a quarterly dividend of 70 cents per share on its common stock, payable Dec. 20, 1991, to stockholders of record on Nov. 29, 1991.  That action continues KCPL's indicated annual level of dividends at $2.80 per share.  In addition, the board of directors declared regular dividends on the preferred stock, payable March 1, 1992, to shareholders of record on Feb. 6, 1992.
    KCPL reported that third quarter electric operating revenues increased 4.1 percent to $247.3 million from $237.5 million in the prior year.  For the 12 months ended Sept. 30, 1991, electric operating revenues increased 3.9 percent to $785.9 million from $756.7 million for the same period a year ago.
    Kilowatt-hour sales increased 4.4 percent in the third quarter due primarily to warmer weather and increased load growth.  Kwh sales increased 5.0 percent for the 12 month period also reflecting increased usage due to warmer weather in both the second and third quarters of 1991 and increases in load growth.
    Third quarter 1991 net income decreased to $49.6 million from $52.4 million a year ago.  For the 12 months ended Sept. 30, 1991, net income increased to $110.7 million compared with $109.8 million in the prior period.
    Kansas City Power & Light provides electric service to about 414,000 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
                                              September
                                     1991                  1990
    Operating revenues             $247,252               $237,494
    Kwh sales - increase
     (decrease)pct.               3,383,720   4.4pct.    3,241,486
    Net income                      $49,633                $52,351
    Preferred dividends              $1,569                 $1,590
    Earnings available for common   $48,064                $50,761
    Avg. No. of shares outstanding   30,954                 30,953
    Total earnings                    $1.55                  $1.64
    Net AFUDC and other non-cash
     earnings                          $.02                   $.03
    Earnings from other operations    $1.53                  $1.61
                                           Year-to-Date
                                             September
                                     1991                  1990
    Operating revenues             $615,648               $590,872
    Kwh sales - increase
     (decrease)pct.               8,656,296   6.3pct.    8,141,055
    Net income                      $96,194                $88,198
    Preferred dividends              $4,740                 $4,769
    Earnings available for common   $91,454                $83,429
    Avg. No. of shares outstanding   30,954                 30,948
    Total earnings                    $2.95                  $2.70
    Net AFUDC and other non-cash
     earnings                          $.10                   $.09
    Earnings from other operations    $2.85                  $2.61
                                        Twelve Months Ended
                                             September
                                     1991                  1990
    Operating revenues             $785,933               $761,467
    Kwh sales - increase
     (decrease)pct.              11,120,596   5.0pct.   10,589,038
    Net income                     $110,728               $109,807
    Preferred dividends              $6,331                 $6,359
    Earnings available for common  $104,397               $103,448
    Avg. No. of shares outstanding   30,954                 30,949
    Total earnings                    $3.37                  $3.34
    Net AFUDC and other non-cash
     earnings                          $.13                   $.12
    Earnings from other operations    $3.24                  $3.22
    -0-                         11/5/91
    /CONTACT:  Bernie Beaudoin, 816-556-2543 or Robert Levesque, 816-556-2312, of Kansas City Power & Light/
    (KLT) CO:  Kansas City Power & Light Co. ST:  Missouri IN:  UTI SU:  ERN BB -- DV002 -- 1258 11/05/91 12:50 EST
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Date:Nov 5, 1991
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