8-KRegulation FDOther EventsExhibits & Filings

DIGITAL REALTY TRUST, INC. 8-K Report, Regulation FD Disclosure (Apr 15, 2021)

Filed April 15, 2021For Securities:DLRDLR-PJDLR-PKDLR-PL

Summary

Digital Realty Trust, Inc. (DLR) announced via an 8-K filing on April 15, 2021, its intention to redeem all outstanding shares of its 6.625% Series C Cumulative Redeemable Perpetual Preferred Stock. The redemption is scheduled for May 17, 2021, with a redemption price of $25.00 per share, plus any accrued and unpaid dividends, totaling $25.211632 per share. This action is being taken at the company's option and is a significant event for holders of the Series C Preferred Stock. This redemption represents a strategic financial decision by Digital Realty, likely aimed at optimizing its capital structure or reducing preferred dividend payments. Investors holding the Series C Preferred Stock should note the upcoming redemption date and the total payout per share. The company also included standard cautionary statements regarding forward-looking statements, highlighting that actual results could differ materially due to various risks and uncertainties.

Key Highlights

  • 1Digital Realty to redeem all 8,050,000 shares of its 6.625% Series C Cumulative Redeemable Perpetual Preferred Stock.
  • 2The redemption date is set for May 17, 2021.
  • 3The redemption price is $25.00 per share, plus accrued and unpaid dividends of $0.211632 per share, for a total of $25.211632 per share.
  • 4The redemption is being exercised at the company's option.
  • 5A press release announcing the redemption was issued on April 15, 2021, and is included as an exhibit.
  • 6The filing includes a cautionary statement about forward-looking statements and associated risks and uncertainties.

Frequently Asked Questions

Digital Realty is redeeming all of its outstanding 6.625% Series C Cumulative Redeemable Perpetual Preferred Stock on May 17, 2021. This means the company is buying back all shares of this preferred stock from its holders.

You will receive $25.00 per share, plus any accrued and unpaid dividends up to, but not including, the redemption date. This amounts to a total payment of $25.211632 per share.

The filing states that the redemption is made at the option of the Company. While the specific strategic reasons are not detailed, companies often redeem preferred stock to reduce dividend obligations, refinance at lower interest rates, or simplify their capital structure.

If you hold the Series C Preferred Stock through a brokerage account or the Depository Trust Company (DTC), the redemption will likely be processed automatically according to DTC's procedures. You should contact your broker or financial institution for specific instructions or to confirm the process.