Great Plains Declares Dividends and Kissner to Buy U.S. Salt

BusinessWire

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Great Plains Energy Incorporated Declares Dividends 

 KANSAS CITY, Mo.--(BUSINESS WIRE)--Great Plains Energy (NYSE: GXP) today announced that its Board of Directors approved a quarterly dividend of $0.2750 per share on its common stock. The Company’s current annual dividend level is $1.10 per share. The common dividend will be payable December 20, 2017, to shareholders of record as of November 29, 2017. The shares will begin to trade ex-dividend on November 27, 2017.

Headquartered in Kansas City, Mo., Great Plains Energy Incorporated is the holding company of Kansas City Power & Light Company (KCP&L) and KCP&L Greater Missouri Operations Company, two of the leading regulated providers of electricity in the Midwest. KCP&L and KCP&L Greater Missouri Operations Company use KCP&L as a brand name.

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Kissner Group Holdings to Acquire US Salt from Crestwood Equity Partners

OVERLAND PARK, Kan. & WATKINS GLEN, N.Y.-- Kissner Group Holdings LP, the parent company of a leading, bulk salt and specialty packaged salt producer, Kissner, today announced that it will acquire US Salt LLC (“US Salt”), a leading evaporated salt business with a salt refinery in Watkins Glen, New York, from Crestwood Equity Partners LP (NYSE:CEQP). The transaction is expected to be completed by the end of 2017.
 
“US Salt is a highly complementary and welcome addition to our company,” said Mark Demetree, Executive Chairman and Chief Executive Officer of Kissner Group Holdings LP. “US Salt, with its leading position in providing evaporated salt to the consumer food, food processing, water conditioning, pharmaceutical, industrial and agricultural end-use markets, diversifies our product offering while expanding our ability to meet the needs of our customers. With US Salt, we will have increased financial scale and flexibility with non-weather correlated and non-seasonal cash flow to supplement our existing de-icing business. I’ve known the leadership at US Salt for some time, and I look forward to welcoming them to the Kissner team as we enter our next phase of growth together.”

Upon completion of the transaction, US Salt will continue to operate under its existing name as a subsidiary of Kissner. US Salt’s salt refinery in Watkins Glen, New York, will remain fully operational.

Founded in 1893, US Salt utilizes solution mining to create salt brine from underground deposits lying 2,000 to 2,800 feet beneath the surface. The brine is mechanically evaporated to create evaporated salt, which is nearly 100 percent pure sodium chloride. US Salt’s customers include retailers, distributors, and end-users in the consumer food, food processing, water conditioning, pharmaceutical, industrial and agricultural industries.

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