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FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: November 20, 1998
Commission file number 1-12579
OGE ENERGY CORP.
(Exact name of registrant as specified in its charter)
Oklahoma 73-1481638
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
321 North Harvey
P. O. Box 321
Oklahoma City, Oklahoma 73101-0321
(Address of principal executive offices)
(Zip Code)
405-553-3000
(Registrant's telephone number, including area code)
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Item 5. Other Events
STOCK BUYBACK
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The Company announced, November 18, 1998, that its Board of Directors has
approved the repurchase of up to six million shares of the Company's common
stock during the next two years. The buyback will represent approximately seven
percent of the Company's common stock. The stock will be retired after its
purchase. Stock repurchases may be implemented through a variety of methods,
including open market share repurchases, block transactions, privately
negotiated share repurchases, accelerated share repurchase programs, formal
repurchase agreements, or other similar facilities. At this time, the Company
anticipates that the repurchase program will commence in January 1999.
Item 7. (c) Exhibits
EXHIBIT NUMBER DESCRIPTION
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99.01 Press release dated November 18, 1998 announcing stock
buyback of up to six million shares during the next two
years.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
OGE ENERGY CORP.
(Registrant)
By /s/ Donald R. Rowlett
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Donald R. Rowlett
Controller Corporate Accounting
(On behalf of the registrant and in his capacity
as Controller Corporate Accounting)
November 20, 1998
EXHIBIT INDEX
EXHIBIT INDEX DESCRIPTION
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99.01 OGE ENERGY CORP. ANNOUNCES STOCK BUYBACK
EXHIBIT 99.01
OGE ENERGY CORP. ANNOUNCES STOCK BUYBACK, DECLARES
FIRST-QUARTER DIVIDEND
OKLAHOMA CITY - The OGE Energy Corp. (NYSE: OGE) Board of Directors today
approved the repurchase of up to six million shares of the company's common
stock during the next two years. The buyback will represent approximately seven
percent of the company's outstanding common stock. After its purchase the stock
will be retired.
"We believe that our common stock represents a good value," said Steven E.
Moore, OGE Energy chairman, president and CEO. "The buyback will allow the
company to reduce its permanent capitalization and should improve shareowner
value."
In other action, the Board declared a first quarter 1999 dividend of
$0.3325 per common share of stock for shareowners of record Jan. 8, 1999. The
dividend level remained unchanged from the previous quarter.
OGE Energy Corp. is the parent company of Oklahoma Gas & Electric Company,
Enogex Inc. and Origen Inc.
QUARTERLY
CLASS OF STOCK DIVIDEND PER RECORD PAYMENT
SHARE DATE DATE
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OGE Energy Corp.
Common $ 0.3325 1-8-99 1-29-99
