>WESTAR ENERGY DECLARES DIVIDEND

New quarterly dividend of 29 cents per share reflects a 7.4 percent increase.

The Westar Energy, Inc. (NYSE:WR) Board of Directors today declared a quarterly dividend of 29 cents per share payable April 1, 2008 on the company’s common stock. The new dividend is 7.4 percent higher than the company’s previous dividend, and results in an indicated annual rate of $1.16 per share.
“We recognize the importance of our dividends as a component of total shareholder
return,” said Bill Moore, president and chief executive officer. “This increase considers our longterm
view of the business opportunities for Westar and strikes the appropriate balance between
retaining earnings to fund our construction program and demonstrating our commitment to
providing solid returns on invested capital our shareholders have committed to fund our growth.”
The board also declared regular quarterly dividends on the company’s 4.25 percent,
4.5 percent and 5 percent series preferred stocks payable April 1, 2008.
The dividends are payable to shareholders of record as of March 7, 2008.
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