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BULLETIN: Westar's Dividend Increase Detracts From Credit Quality But Has No Rating Impact Nov 04
Standard & Poors, Nov 2004
Abstract
NEW YORK (Standard & Poor's) Nov. 29, 2004--Standard & Poor's Ratings Services said today that Westar Energy Inc.'s (BB+/Positive/-) expected decision to increase its dividend detracts from the company's credit quality but is already incorporated into its ratings and outlook on the company. Westar's board of directors approved a quarterly dividend of $0.23 per share, payable Jan. 3, 2005, on the company's common stock. The new dividend represents an indicated annual rate of $0.92 per share compared with the most recent annual dividend of $0.76 per share. The higher dividend may lower discretionary cash flow available to pay down debt and may signal a slow down in future debt reduction. The company's quarterly common dividend was cut by 37% to...
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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