SOURCE: Westar Energy, Inc.

February 20, 2008 16:33 ET

Westar Energy Declares Dividend

New Quarterly Dividend of 29 Cents per Share Reflects a 7.4 Percent Increase

TOPEKA, KS--(Marketwire - February 20, 2008) - The Westar Energy, Inc. (NYSE: WR) Board of Directors today declared a quarterly dividend of 29 cents per share payable April 1, 2008 on the company's common stock. The new dividend is 7.4 percent higher than the company's previous dividend, and results in an indicated annual rate of $1.16 per share.

"We recognize the importance of our dividends as a component of total shareholder return," said Bill Moore, president and chief executive officer. "This increase considers our long-term view of the business opportunities for Westar and strikes the appropriate balance between retaining earnings to fund our construction program and demonstrating our commitment to providing solid returns on invested capital our shareholders have committed to fund our growth."

The board also declared regular quarterly dividends on the company's 4.25 percent, 4.5 percent and 5 percent series preferred stocks payable April 1, 2008.

The dividends are payable to shareholders of record as of March 7, 2008.

Westar Energy, Inc. (NYSE: WR) is the largest electric utility in Kansas, providing electric service to about 674,000 customers in the state. Westar Energy has about 6,200 megawatts of electric generation capacity and operates and coordinates approximately 33,000 miles of electric distribution and transmission lines.

For more information about Westar Energy, visit us on the Internet at http://www.WestarEnergy.com.

Contact Information

  • Media contact:
    Karla Olsen
    director, corporate communications
    Phone: 888.613.0003
    FAX: 316.261.6769
    Email Contact

    Investor contact:
    Bruce Burns
    director, investor relations
    Phone: 785.575.8227
    Email Contact