Special Wwp Stock Opens For Trading

Thu., Dec. 3, 1998

From Staff

Water Power Co.’s newly issued convertible preferred stock opened for trading Tuesday on the New York Stock Exchange.

The Return-Enhanced Convertible Securities, or RECONS, carry a $1.24 annual dividend. The dividend on common stock will drop to 48 cents annually, with payment due Dec. 15.

The cutoff date for receiving the next dividend is today. In the first two days of trading, RECONS have traded at a slight premium to the common stock, reflecting the difference in dividends.

The common stock, with the ticker symbol WWP, closed Wednesday at $19.12. The RECONS, ticker symbol WWPPrl, closed at $19.50.

The tickers will change Jan. 1, when WWP changes its name to Avista Corp. The letters “AVA” will replace “WWP” in both symbols.

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Special Wwp Stock Opens For Trading

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