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) April 22, 1998
Northern States Power Company
(Exact name of registrant as specified in its charter)
Minnesota
(State or other jurisdiction of incorporation)
1-3034 41-0448030
(Commission File Number) (IRS Employer Identification No.)
414 Nicollet Mall, Mpls, MN 55401
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 612-330-5500
(Former name or former address, if changed since last report)
Item 5. Other Events
On April 22, 1998, Northern States Power Company's Board of Directors authorized
a two-for-one stock split effective June 1, 1998 for shareholders of record on
May 18, 1998. The total number of additional shares to be distributed to
complete the stock split is expected to be approximately 75.4 million. Attached
as Exhibit 99.01 is a news release announcing the transaction.
Item 7. Financial Statements and Exhibits
(c) EXHIBITS
Exhibit
No. Description
99.01 April 22, 1998 News Release from Northern States Power
Company
SIGNATURES
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.
Northern States Power Company
(a Minnesota Corporation)
By /s/
Edward J. McIntyre
Vice President and Chief
Financial Officer
Dated: April 23, 1998
EXHIBIT INDEX
Method of Exhibit
Filing No. Description
DT 99.01 April 22, 1998 News Release
from Northern States Power Company
DT = Filed electronically with this direct transmission.
Exhibit No. 99.01
April 22, 1998
NSP ANNOUNCES STOCK SPLIT
MINNEAPOLIS - Northern States Power Co.'s Board of Directors today
authorized a two-for-one stock split effective June 1 for shareholders of record
on May 18.
The action was announced this morning at the company's Annual Shareholders'
Meeting by Jim Howard, NSP's chairman, president and CEO, after a majority of
shareholders approved an increase in the number of shares of NSP's authorized
common stock.
"One of the best indications of our company's momentum is the price of our
stock," Howard said. "We watched it climb steadily in 1997 and even higher
this year as it reached an all-time high."
In announcing the stock split, Howard further explained NSP's financial
strength:
o In 1997, NSP's total return - which takes into consideration stock price
appreciation plus dividends - was 34 percent, which exceeded stock
indexes such as the Dow Jones Industrials.
o The company ranks in the top one-third of its industry based on its three-
year average return on equity.
o Since 1993, NSP's earnings per share have increased nearly twice as fast
as the average of other "AA" rated companies. (Three financial
rating agencies upgraded their ratings of NSP's bonds in the past 10
months.)
o The company's dividend has increased every year for the last 23 years.
Howard said the stock split "will broaden our investor base by giving more
people an opportunity to own a part of NSP."
More information will be available to NSP shareholders in the first-quarter
edition of the company's shareholder newsletter.
# # #
For more information, contact:
NSP Media Representatives
Office: (612) 337-2167
Internet: http://www.nspco.com
