What is the total amount I will receive per share of Series A Preferred Stock?

You will receive $25.00 per share plus all accrued and unpaid dividends up to, but not including, September 30, 2024. This amounts to approximately $25.375 per share in total.

Who is eligible to receive the final dividend payment?

Only holders of record of the Series A Preferred Stock as of the close of business on September 13, 2024 (the Dividend Record Date) will be entitled to the dividend payable on the Redemption Date.

What is the reason for this redemption?

The filing does not explicitly state the reason for the redemption. However, such actions are typically undertaken to manage the company's capital structure, potentially to reduce borrowing costs, refinance at more favorable rates, or simplify its outstanding debt and equity profile.

What should I do with my Series A Preferred Stock shares?

If you hold the Series A Preferred Stock, the shares will be automatically redeemed on September 30, 2024. You will receive the redemption payment. If you are a holder of record on September 13, 2024, you will also receive the final dividend. Consider how this cash inflow fits into your overall investment strategy and explore reinvestment options.

O 8-K SEC Disclosure — Aug 28, 2024

01—Abstract

Summary

Summary of the 8-K/A filed August 28, 2024. Cited figures are marked; the original filing is the authoritative source.

Realty Income Corporation (O) announced its intention to redeem all outstanding shares of its 6.000%^a Series A Cumulative Redeemable Preferred Stock on September 30, 2024.

This redemption will occur at a price of $25.00^b per share, plus any accrued and unpaid dividends, resulting in a total payment of approximately $25.375 per share. Investors holding the Series A Preferred Stock as of the close of business on September 13, 2024, will be entitled to the final dividend payment on the redemption date.

This action signals a strategic move by Realty Income to manage its capital structure, likely aimed at optimizing its cost of capital or simplifying its outstanding securities. Investors should evaluate the implications of this redemption on their portfolio and consider reinvestment strategies.

02—Key points

Key Highlights

Realty Income (O) plans to redeem all 6,900,000 outstanding shares of its 6.000% Series A Cumulative Redeemable Preferred Stock.
The redemption date is set for September 30, 2024.
Each share will be redeemed at $25.00, plus accrued and unpaid dividends.
The total payment per share is approximately $25.375, including dividends.
Holders of record on September 13, 2024, will receive the final dividend payment.
September 30, 2024, marks the final dividend payment date for this series of preferred stock.

03—Questions

Frequently Asked Questions

What is the total amount I will receive per share of Series A Preferred Stock?
You will receive $25.00 per share plus all accrued and unpaid dividends up to, but not including, September 30, 2024. This amounts to approximately $25.375 per share in total.
Who is eligible to receive the final dividend payment?
Only holders of record of the Series A Preferred Stock as of the close of business on September 13, 2024 (the Dividend Record Date) will be entitled to the dividend payable on the Redemption Date.
What is the reason for this redemption?
The filing does not explicitly state the reason for the redemption. However, such actions are typically undertaken to manage the company's capital structure, potentially to reduce borrowing costs, refinance at more favorable rates, or simplify its outstanding debt and equity profile.
What should I do with my Series A Preferred Stock shares?
If you hold the Series A Preferred Stock, the shares will be automatically redeemed on September 30, 2024. You will receive the redemption payment. If you are a holder of record on September 13, 2024, you will also receive the final dividend. Consider how this cash inflow fits into your overall investment strategy and explore reinvestment options.

04—Continue

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