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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) May 6, 1996
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 (913) 575-6300
WESTERN RESOURCES, INC.
Item 5. Other Events
On May 6, 1996, Western Resources, Inc. issued the following Press
Release:
WESTERN RESOURCES RAISES MINIMUM DIVIDEND LEVEL
IN ITS EXISTING KCPL PROPOSAL
TOPEKA, Kansas, May 6, 1996 -- The Board of Directors of Western
Resources Inc., today raised the minimum dividend level and improved the
upside opportunity for Kansas City Power and Light shareholders in its
offer for Kansas City Power and Light (KCPL).
The move means that Western Resources' offer will continue to have a
substantially higher projected dividend than under the proposed
KCPL/UtiliCorp dividend program announced today.
The result is the minimum number of shares the KCPL shareholders will
receive has been increased from .833 to .91 share of Western Resources.
The maximum number of shares remains at .985 share of Western Resources.
Based on projections included in Western Resources' preliminary
prospectus filed with the Securities and Exchange Commission, KCPL
shareholders would receive an annual dividend of more than $1.85 regardless
of Western Resources' stock price at the time of the merger.
Based on today's stock closing price, Western Resources projects KCPL
shareholders would get a dividend of $2.01, assuming the transaction is
closed in late 1997, compared to the $1.85 projected from the UtiliCorp
deal.
"We want to make sure there is no confusion about which offer pays the
better dividends for shareholders. Our confidence in the soundness of our
offer is high, so our move to raise the minimum dividend is sound," said
John E. Hayes, Jr., chairman and chief executive officer of Western
Resources.
Western Resources (NYSE:WR) is a diversified energy company. Its
utilities, KPL and KGE, operating in Kansas and Oklahoma, provide natural
gas service to approximately 650,000 customers and electric service to
approximately 600,000 customers. Through its subsidiaries, Westar Business
Services, Westar Consumer Services, Westar Capital, and The Wing Group,
energy-related products and services are developed and marketed in the
continental U.S., and offshore.
For more information about Western Resources and its operating
companies, visit us on the Internet at http://www.wstnres.com.
A registration statement relating to the Western Resources securities
referred to in these materials has been filed with the Securities and
Exchange Commission but has not yet become effective. Such securities may
not be sold nor may offers to buy be accepted prior to the time the
registration statement becomes effective. These materials shall not
constitute an offer to sell or the solicitation of an offer to buy nor
shall there be any sale of these securities in any state in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state.
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 May 6, 1996 By /s/ Jerry D. Courington
Jerry D. Courington,
Controller