Summary
This 8-K filing from American Tower Corporation (AMT) on April 14, 2015, primarily reports on the dividend declarations for its preferred stock. The Board of Directors declared cash distributions for both the 5.25% Mandatory Convertible Preferred Stock, Series A, and the 5.50% Mandatory Convertible Preferred Stock, Series B. These distributions are a routine event for income-focused investors, providing a clear indication of expected returns from these specific securities. The key details for investors revolve around the amount of the distribution and the payment timeline. The Series A preferred stock will receive $1.3125 per share, and the Series B preferred stock will receive $11.1528 per share (or $1.11528 per depositary share). Both payments are scheduled to be made on May 15, 2015, to shareholders of record as of May 1, 2015. This information is crucial for preferred stockholders to confirm their expected income for the period.
Key Highlights
- 1American Tower Corporation's Board of Directors declared cash distributions for its preferred stock.
- 2The 5.25% Mandatory Convertible Preferred Stock, Series A, will receive a cash distribution of $1.3125 per share.
- 3The 5.50% Mandatory Convertible Preferred Stock, Series B, will receive a cash distribution of $11.1528 per share (equivalent to $1.11528 per depositary share).
- 4The distributions are payable on May 15, 2015.
- 5Record date for the distributions is May 1, 2015.
- 6The filing includes a press release dated April 14, 2015, detailing these announcements.