SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
__________________________________
FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: February 23, 1999
Date of Event (or earliest event) being reported:
February 23, 1999
IPALCO ENTERPRISES, INC.
(Exact name of registrant as specified in its charter)
Indiana 1-8644 35-1575582
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
One Monument Circle, Indianapolis, Indiana 46204
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(317) 261-8261
Item 5. Other Event
IPALCO Enterprises, Inc. issued the following press
release on February 23, 1999, relating to the declaration
of a stock distribution in the form of a two-for-one
split of its outstanding common stock:
Media Contact: Marni Lemons (317) 261-8219
e-mail: [email protected]
Investor Contact: Tracy Venable (317) 261-8259
e-mail: [email protected]
- - IPALCO Announces 2-for-1 Stock Split and 9.1% Increase
in Dividend -
Indianapolis, February 23, 1999 - IPALCO Enterprises,
Inc. (NYSE:IPL) announced today that its Board of
Directors declared a 2-for-1 stock split of the Company's
common stock and a 9.1 percent increase in the dividend.
On March 18, 1999, shareowners will receive one
additional share for every share they own on the record
date of March 5, 1999. Following the effective date of
the split, IPALCO will have approximately 87 million
shares outstanding.
The Board also increased the Company's quarterly dividend
from $.275 to $.30 per share based on the Company's pre-
split common stock or from $.1375 to $.15 per share post-
split. The new annual indicated dividend level rose 9.1
percent from $1.10 per share to $1.20 per share on a pre-
split basis, and from $.55 per share to $.60 per share on
a post-split basis. The dividend is payable on April 15,
1999 to shareowners of record on March 30, 1999.
John R. Hodowal, Chairman and President, stated, "Today's
decision reflects our strong 1998 financial performance
which we achieved while still providing the lowest
residential electric rates of the Indiana investor-owned
utilities. The split also demonstrates management's and
the Board's confidence in the Company's future and
commitment to creating shareowner value. The stock split
will result in a market price that may be more attractive
to individual investors, potentially creating a broader
market for the security. Our dividend increase is
consistent with our financial policy of paying out 45 to
50 percent of prior year's earnings, adjusted for
significant one-time items."
Mr. Hodowal commented that this is the fifth stock split
by the Company with the other splits occurring in 1954,
1962, 1986 and 1996.
IPALCO Enterprises, Inc. is a multi-state energy company
providing a variety of energy products and services. Its
primary subsidiary, Indianapolis Power & Light Company,
provides retail electric service to approximately 426,000
commercial, residential, and industrial customers in
Indianapolis and portions of other Central Indiana
counties.
News releases and other information about IPALCO can be
found on the World Wide Web at http://www.ipalco.com.
# # #
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
hereunto duly authorized.
Dated: February 23, 1999
IPALCO ENTERPRISES, INC.
By /s/ Bryan G. Tabler
Name: Bryan G. Tabler
Title: Vice President, Secretary
and General Counsel
