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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Friday, March 31, 1:23 AM

Slide #546. Saul Centers, Inc. Preferred Stock Offering

Company: Saul Centers, Inc. (NYSE:BFS)
Shares Offered: 5,000,000.00
Date of Pricing: 1/30/2013
Price Per Share: $25
Closed Date: 2/13/2012
Date of Over-Allotment Closing: 2/13/2012
Final Completed Deal Size: 5,600,000.00
Preferred Stock Offering Details: Saul Centers, Inc. (NYSE: BFS) (the "Company") today announced that it priced 5 million depositary shares, each representing a 1/100th fractional interest in a share of the Company's 6.875% Series C Cumulative Redeemable Preferred Stock, at an initial public offering price of $25.00 per depositary share. The dividend rate of the Series C Cumulative Redeemable Preferred Stock underlying the depositary shares will be at a fixed rate of 6.875% of the liquidation preference per year, which is equivalent to an annual dividend of $1.71875 per depositary share. Dividends will be paid quarterly in arrears. The Company estimates that net proceeds from this offering, after deducting underwriting discounts, commissions and estimated offering expenses, will be approximately $120.6 million (assuming no exercise of the underwriters' over-allotment option).

Saul Centers operates as a real estate investment trust. Co., which conducts all of its activities through its subsidiaries, its limited partnership, Saul Holdings Limited Partnership, and two subsidiary limited partnerships, engages in the ownership, operation, management, leasing, acquisition, renovation, expansion, development and financing of community and neighborhood shopping centers and mixed-used properties, primarily in the Washington, DC/Baltimore, MD metropolitan area.


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Name:  Saul Centers Inc
Sector:  REITs
Number of ETFs Holding BFS:  54 (see which ones)
Total Market Value Held by ETFs:  $144,896,582.25
Total Market Capitalization:  $891,000,000
% of Market Cap. Held by ETFs:  16.26%

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