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Wec Energy Group Annual Report (Amendment), Year Ended Dec 31, 1999

Filing Date
Filed April 14, 2000
Period End
December 31, 1999
Security
WEC
In the record · 2016–202610-K1110-Q338-K260

WEC filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 260 current reports (8-K) between 2016 and 2026.

  1. FY2018 annual report10-K · Feb ’19Feb ’19
  2. Leadership change8-K · Jan ’22Jan ’22
  3. Leadership change8-K · Dec ’25Dec ’25

01—Abstract

Summary

Summary of the 10-K/A filed April 14, 2000. Cited figures are marked; the original filing is the authoritative source.

Wisconsin Energy Corporation, now WEC Energy Group, Inc., filed this Form 10-K/A (Amendment No. 1) to its 1999 Annual Report to amend Item 5, Market for Registrant's Common Equity and Related Stockholder Matters.

The amendment reports 91,062 registered stockholders as of year-end 1999, including accounts in the company's dividend reinvestment and stock purchase plan. Its common stock is listed on the New York Stock Exchange under the ticker WEC. The company reported quarterly dividends of $.39 per share throughout 1999, totaling $1.56a for the year, compared with $1.555 for 1998.

The 1999 stock price ranged from a high of $31b-9/16 to a low of $19-1/16, with the fourth-quarter range of $24-3/16 to $19-1/16. Dividends remain subject to regulatory restrictions and the board's discretion. The filing also discloses that Wisconsin Electric Power Company paid cash dividends of $179,572,000 in 1999 and $179,001,000 in 1998 to its sole common stockholder, Wisconsin Energy.

The main new disclosure is an administrative error discovered in April 2000 under the Stock Plus Investment Plan. Plan sales of common stock exceeded the shares registered under the Securities Act of 1933 beginning in December 1999.

The oversales were 124,622 shares in December 1999 for $2,451,702,c 615,754 shares in the first quarter of 2000 for $11,242,716, and 78,963 shares through April 3, 2000 for $1,576,794. The company says it promptly registered additional shares once it discovered the error.

02—Key points

Key Highlights

  1. Form 10-K/A Amendment No. 1 to the 1999 Annual Report, amending only Item 5 (market for common equity and stockholder matters).
  2. 91,062 registered stockholders as of year-end 1999, including dividend reinvestment and stock purchase plan accounts.
  3. Common stock listed on the New York Stock Exchange under the ticker WEC; 1999 quarterly dividends were $.39 per share, totaling $1.56 for the year versus $1.555 in 1998.
  4. 1999 stock price range of $31-9/16 high to $19-1/16 low.
  5. Stock Plus Investment Plan oversales of 124,622 shares in December 1999 ($2,451,702), 615,754 shares in Q1 2000 ($11,242,716), and 78,963 shares through April 3, 2000 ($1,576,794), caused by an administrative error.
  6. Company registered additional shares for the plan after discovering the error in April 2000.
  7. Wisconsin Electric Power Company paid dividends of $179,572,000 in 1999 and $179,001,000 in 1998 to its sole common stockholder, Wisconsin Energy.

03—Questions

Frequently Asked Questions

  1. What is the purpose of this filing?

    This Form 10-K/A (Amendment No. 1) amends Item 5 of Wisconsin Energy Corporation's 1999 Annual Report on Form 10-K. It covers stockholder count, stock listing and trading, dividends, stock price ranges, and a disclosure about Stock Plus Investment Plan share sales.

  2. How much did Wisconsin Energy pay in dividends to shareholders?

    The company declared $.39 per share in each quarter of 1999, totaling $1.56 per share for the year, compared with $1.555 per share for 1998. Future dividends remain at the board's discretion and depend on earnings, financial condition, and regulatory restrictions.

  3. What was the Stock Plus Investment Plan error?

    Due to an administrative error, sales under the Stock Plus Investment Plan exceeded the shares registered under the Securities Act of 1933 beginning in December 1999. The company discovered the error in April 2000 and registered additional shares. The filing reports oversales of 124,622 shares in December 1999, 615,754 shares in the first quarter of 2000, and 78,963 shares through April 3, 2000.

  4. How did the stock perform in 1999?

    Common stock traded in a 1999 range of $31-9/16 high to $19-1/16 low. The fourth-quarter range was $24-3/16 high to $19-1/16 low, compared with a 1998 annual range of $34 high to $27 low.

04—Continue

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