Summary
Realty Income Corporation (O) announced on March 7, 2017, its intention to redeem all outstanding shares of its 6.625% Monthly Income Class F Cumulative Redeemable Preferred Stock. The redemption is scheduled for April 6, 2017, at a price of $25.00 per share, plus any accrued and unpaid dividends. This action represents a strategic financial move by the company, likely aimed at optimizing its capital structure or reducing interest expenses associated with this specific series of preferred stock. Investors holding the Class F Preferred Stock should note the redemption date and the total payout per share, which includes the liquidation preference and any accumulated dividends. This event is significant for preferred stockholders as it marks the termination of their investment in this particular security and the return of their capital along with a final distribution.
Key Highlights
- 1Realty Income Corporation is redeeming all 16,350,000 outstanding shares of its 6.625% Monthly Income Class F Cumulative Redeemable Preferred Stock.
- 2The redemption date is set for April 6, 2017.
- 3The redemption price is $25.00 per share.
- 4In addition to the redemption price, shareholders will receive accrued and unpaid dividends.
- 5The approximate total payment per share will be $25.101215, including accrued dividends.
- 6The company filed a press release on March 7, 2017, to announce this redemption.
- 7This action relates to the company's capital management and debt/equity structure.