CEDAR RAPIDS, Iowa, April 29, 2011 /PRNewswire/ -- Interstate Power and Light Company (IPL), a wholly owned subsidiary of Alliant Energy Corporation (NYSE: LNT), announced that today it redeemed all of the 1,600,000 outstanding shares of IPL's 7.10% Series C Cumulative Preferred Stock (CUSIP 461070 86 4), which is listed on the New York Stock Exchange under the symbol IPLPRC. The total amount paid by IPL to affect the redemption was approximately $40.4 million, including accrued and unpaid dividends to the redemption date, which was funded from cash from operations. No dividends on the preferred stock will accrue after today, nor will any interest accrue on amounts held by the trustee to pay the redemption price. IPL today also filed with the Securities and Exchange Commission a notification of voluntary withdrawal of listing and registration with respect to the redeemed preferred stock.
Interstate Power and Light is a public utility engaged principally in the generation and distribution of electric energy and the distribution and transportation of natural gas in selective markets in Iowa and southern Minnesota, serving approximately 530,000 electric and 235,000 natural gas customers.