Empire District Elect has a market cap of $895.8 million; its shares were traded at around $21.59 with a P/E ratio of 17.4 and P/S ratio of 1.7. The dividend yield of Empire District Elect stocks is 5.9%. Empire District Elect had an annual average earning growth of 1.9% over the past 5 years.Hedge Fund Gurus that owns EDE: Stanley Druckenmiller of Duquesne Capital Management, LLC, Jim Simons of Renaissance Technologies LLC. Mutual Fund and Other Gurus that owns EDE: Mario Gabelli of GAMCO Investors.
Highlight of Business Operations: The Plum Point Energy Station is a new 665-megawatt, coal-fired generating facility near Osceola, Arkansas which met its in-service criteria on August 13, 2010 and entered commercial operation on September 1, 2010. We own, through an undivided interest, 50 megawatts of the project's capacity. The estimated total cost is approximately $88.0 million, excluding allowance for funds used during construction (AFUDC), and our share of the Plum Point costs through December 31, 2010 was $86.9 million. In addition to the amounts noted above, we have recorded $16.5 million of AFUDC for the Plum Point construction since its inception. We also have a long-term (30 year) purchased power agreement for an additional 50 megawatts of capacity and have the option to purchase an undivided ownership interest in the 50 megawatts covered by the purchased power agreement in 2015.
We also purchased an undivided ownership interest in the coal-fired Iatan 2 generating facility operated by Kansas City Power & Light Company (KCP&L) and located at the site of the existing Iatan Generating Station (Iatan 1) near Weston, Missouri. We own 12%, or approximately 102 megawatts, of the 850-megawatt unit, which met its in-service criteria on August 26, 2010 and entered commercial operation on December 31, 2010. Our share of the Iatan 2 construction costs is expected to be in a range of approximately $237 million to $240 million, excluding AFUDC. Our share of the Iatan 2 costs through December 31, 2010 was $228.9 million. Current projections estimate $11.1 million being spent in 2011 for our share of expected expenditures for Iatan 2. In addition to the amounts noted above, we recorded $19.1 million of AFUDC for the Iatan 2 construction since its inception.
Total property additions (including construction work in progress but excluding AFUDC) for the three years ended December 31, 2010, amounted to $440.6 million and retirements during the same period amounted to $39.8 million. Please refer to Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations Liquidity and Capital Resources" for more information.
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