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BULLETIN: Westar's Dividend Increase Detracts Marginally From Credit Quality Feb 06
Standard & Poors, Feb 2006
Abstract
NEW YORK (Standard & Poor's) Feb. 23, 2006--Standard & Poor's Ratings Services said today that Westar Energy Inc.'s (BB+/Positive/--) dividend increase detracts marginally from the company's credit quality but is already incorporated into its ratings and outlook on the company. Westar's board of directors approved an annualized dividend of $1.00 per share on the company's common stock, representing an 8.7% increase over the current $0.92 per share. With this increase, the company will likely be at the low end of its targeted long-term payout ratio of 60% to 75% of earnings in 2006. Although Westar has made tremendous progress in reducing its heavy debt burden and strengthening its overall financial condition, the higher dividend, in combination with the recently authorized...
Companies mentioned in this report are: Westar Energy Inc.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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