Ex-Dividend Alert: Great Plains Energy has a Dividend Yield of 3.21%; Will Trade Ex-Dividend on November 28, 2017
LONDON, UK / ACCESSWIRE / November 27, 2017 / Active-Investors has a free review on Great Plains Energy Inc. (NYSE: GXP) following the Company's announcement that it will begin trading ex-dividend on November 28, 2017. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on November 27, 2017. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on GXP: www.active-investors.com/registration-sg/?symbol=GXP.
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Dividend Declared
On October 31, 2017, Great Plains Energy announced that its Board of Directors approved a quarterly dividend of $0.2750 per share on its common stock. The common dividend will be payable December 20, 2017, to shareholders of record as of November 29, 2017.
Great Plains Energy's indicated dividend represents a yield of 3.21%, which is substantially higher compared to the average dividend yield of 2.34% for the Utilities sector. The Company has raised dividend for six consecutive years.
Dividend Insights
Great Plains Energy has a dividend payout ratio of 62.1%, which indicates that the Company spends approximately $0.62 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, Great Plains Energy is forecasted to report earnings of $1.70 for the next year, which is noticeably above the Company's annualized dividend of $1.10 per share.
As of September 30, 2017, Great Plains Energy had cash and cash equivalents worth $1.10 billion compared to $1.29 billion as on December 31, 2016. For the nine months of 2017, the Company generated cash flow from operating activities of $649.7 million compared to $684.8 million for the year ago same period. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
Recent Development for Great Plains Energy
On November 21, 2017, Westar Energy, Inc. (WR) and Great Plains Energy, the parent Company of Kansas City Power & Light ("KCP&L"), announced at their respective shareholder meetings that shareholders overwhelmingly approved the proposals necessary for the merger between the two companies.
Westar Energy and Great Plains Energy announced a revised transaction in July 2017 after the Kansas Corporation Commission denied the companies' original request to combine in April. This revised agreement involves no transaction debt, no exchange of cash, and is a stock-for-stock merger of equals, creating a Company with a combined equity value of approximately $15 billion.
The merger is expected to help maintain reliable, low cost energy for the company's 1 million Kansas customers and nearly 600,000 customers in Missouri. Additionally, with one of the largest renewable energy portfolios in the nation, the new combined Company will be a clean energy leader, supplying nearly half of its retail sales from emissions-free electricity.
About Great Plains Energy Incorporated
Great Plains Energy, through its subsidiaries, generates, transmits, distributes, and sells electricity. The Company generates electricity using coal, nuclear, natural gas, oil, wind, solar, and hydroelectric resources. It has approximately 6,500 megawatts of generating capacity. The Company sells electricity to approximately 855,700 customers in western Missouri and eastern Kansas, including approximately 753,500 residences and 99,700 commercial firms, as well as 2,500 industrials, municipalities, and other electric utilities. Great Plains Energy was founded in 1919 and is headquartered in Kansas City, Missouri.
Stock Performance Snapshot
November 24, 2017 - At Friday's closing bell, Great Plains Energy's stock rose 0.26%, ending the trading session at $34.35.
Volume traded for the day: 338.71 thousand shares.
Stock performance in the last month – up 6.84%; previous three-month period – up 10.49%; past twelve-month period – up 28.65%; and year-to-date – up 25.59%
After last Friday's close, Great Plains Energy's market cap was at $7.39 billion.
Price to Earnings (P/E) ratio was at 184.68.
The stock has a dividend yield of 3.20%.
The stock is part of the Utilities sector, categorized under the Electric Utilities industry. This sector was up 0.1% at the end of the session.
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