SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported) January 27, 2000
(January 26, 2000)
WESTERN RESOURCES, INC.
(Exact Name of Registrant as Specified in Its Charter)
KANSAS 1-3523 48-0290150
(State or Other Jurisdiction of (Commission (Employer
Incorporation or Organization) File Number) Identification No.)
818 KANSAS AVENUE, TOPEKA, KANSAS 66612
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number Including Area Code (785) 575-6300
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WESTERN RESOURCES, INC.
Item 5. Other Events
On January 26, 2000, the Board of Directors declared a first quarter
dividend of 53 1/2 cents per share payable on April 3, 2000 on its outstanding
common stock. The company also announced that the Board of Directors will
consider at its March meeting management's recommendation for a stock dividend
for the balance of the current annual $2.14 dividend.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit 99.1 - Press release dated as of January 26, 2000 issued by
Western Resources, Inc.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
Western Resources, Inc.
Date January 27, 2000 By /s/ William B. Moore
William B. Moore, Executive Vice
President, Chief Financial
Officer and Treasurer
Date January 27, 2000 By /s/ Leroy P. Wages
Leroy P. Wages, Controller
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EXHIBIT INDEX
Exhibit Number Description of Exhibit
99.1 Press release dated as of
January 27, 2000 issued by
Western Resources, Inc.
Exhibit 99.1
DIVIDEND DECLARED
STOCK REPURCHASE COMPLETE
TOPEKA, Kansas, January 26, 2000 -- The Western Resources Board of
Directors today declared a first-quarter 2000 dividend of 53 1/2 cents per
share payable April 3, 2000, on the company's approximately 67.6 million
shares of common stock.
The Board also declared regular quarterly dividends on the company's
preferred stock payable April 3, 2000.
The dividends are payable to shareholders of record as of March 9, 2000.
The Board will take up a discussion on its dividend policy at its
regularly scheduled March meeting regarding management's recommendation for a
stock dividend for the balance of its current annual $2.14 dividend.
The company also announced it has completed the repurchase of $25
million of its common stock, which was announced last summer.
"Given the recent price of our stock, we believed this was a sound,
strategic move for our company and our shareholders," said David C. Wittig,
Western Resources chairman of the board, president and chief executive
officer.
<PAGE>
Wittig said the company may make additional repurchases of shares from
time-to-time in the open market or in private transactions.
Western Resources (NYSE: WR) is a consumer services company with
interests in monitored services and energy. The company has total assets of
more than $8 billion, including security company holdings through ownership of
Protection One (NYSE: POI), which has more than 1.6 million security customers
in 48 states and Europe. Its utilities, KPL and KGE, provide electric service
to approximately 627,000 customers in Kansas. Through its ownership in ONEOK
Inc. (NYSE: OKE), a Tulsa-based natural gas company, Western Resources has a
45 percent interest in the eighth largest natural gas distribution company in
the nation, serving more than 1.4 million customers. For more information
about Western Resources and its operating companies, visit us on the Internet
at http://www.wr.com.
Forward-Looking Statements: Certain matters discussed in this news
release are "forward-looking statements." The Private Securities Litigation
Reform Act of 1995 has established that these statements qualify for safe
harbors from liability. Forward-looking statements may include words like we
"believe", "anticipate," "expect" or words of similar meaning. Forward-looking
statements describe our future plans, objectives, expectations, or goals. Such
statements address future events and conditions concerning capital
expenditures, earnings, litigation, rate and other regulatory matters, the
outcome of Protection One accounting issues being reviewed by the SEC staff,
possible corporate restructurings, mergers, acquisitions, dispositions,
liquidity and capital resources, interest and dividend rates, environmental
matters, changing weather, nuclear operations, ability to enter new markets
successfully and capitalize on growth opportunities in nonregulated
businesses, events in foreign markets in which investments have been made, and
accounting matters. Our actual results may differ materially from those
discussed here. See the company's and Protection One's 1998 Annual Report on
Form 10-K and 10K/A, quarterly reports on Forms 10-Q and current reports on
Form 8K for further discussion of factors affecting the company's and
Protection One's performance. Western Resources disclaims any obligation to
update any forward-looking statements as a result of developments occurring
after the date of this news release.
/CONTACT: Media: Michel' Philipp, [email protected], 785.575.1927, or fax:
785.575.6399, or Investors: Jim Martin, [email protected], 785.575.6549, or
fax: 785.575.8160, both of Western Resources/
/Web site:http://www.wr.com
