Summary
Public Storage (PSA) has announced the redemption of all outstanding depositary shares representing its 6.60% Cumulative Preferred Shares, Series C (PSAPrC). This redemption will occur on July 12, 2012, with each depositary share being redeemed at $25, plus any accrued dividends from July 1, 2012, up to the redemption date. The total aggregate redemption amount, excluding accrued dividends, is approximately $110.6 million.
Key Highlights
- 1Public Storage is calling for the redemption of its 6.60% Cumulative Preferred Shares, Series C (PSAPrC).
- 2The redemption date is set for July 12, 2012.
- 3Each depositary share will be redeemed at a price of $25.
- 4Holders will also receive accrued dividends from July 1, 2012, up to the redemption date.
- 5The total redemption amount for all outstanding shares, prior to accrued dividends, is $110,625,000.
- 6The company filed a press release dated June 11, 2012, as Exhibit 99.1 to this 8-K filing.