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Saul Centers Inc | 9% Series B Cumulative Redeemable Preferred Stock (BFS.PRB)
This preferred is marked as having been called.
Prospectus excerpt: We are offering 3,000,000 depositary shares, each representing a 1/100th fractional interest in a share of 9% Series B Cumulative Redeemable Preferred Stock. 30,000 shares of Series B preferred stock underlying the depositary shares will be deposited with Continental Stock Transfer & Trust Company, as depositary. As a holder of depositary shares, you will be entitled to all proportional rights, preferences and privileges of the Series B preferred stock represented thereby, including dividend, voting, redemption and liquidation rights and preferences. The proportionate liquidation preference of each depositary share is $25.00. We will pay cumulative distributions on the Series B preferred stock underlying the depositary shares, from the date of original issuance, in the amount of $2.25 per depositary share each year, which is equivalent to 9% of the $25.00 liquidation preference per depositary share. Dividends will be payable quarterly in arrears, on January 15, April 15, July 15 and October 15, beginning on July 15, 2008. We may not redeem the Series B preferred stock underlying the depositary shares before March 15, 2013, except in order to preserve our status as a real estate investment trust. On and after March 15, 2013, we may, at our option, redeem shares of the Series B preferred stock, in whole or in part, by paying $2,500.00 per share ($25.00 per depositary share), plus any accumulated, accrued and unpaid dividends. The Series B preferred stock has no stated maturity, will not be subject to any sinking fund or mandatory redemption and will not be convertible into any of our other securities. Investors in the depositary shares will generally have no voting rights, but will have limited voting rights if we fail to pay dividends for six or more quarters (whether or not declared or consecutive) and in certain other events. Full Prospectus PDF », Secondary Prospectus PDF », BFS Page »
Series: | B | Alternate symbology: | BFS-B, BFS-PB, BFSprB | Redeemable?: | Yes | Call Date: | 3/15/2013 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | Yes | Shares Offered: | 3,000,000 | Overallotment: | 450,000 | Liquidation Preference: | $25.00 | Original Coupon: | 9.00% | Pay Period: | Quarterly | Pay Dates: | 15-Jan, 15-Apr, 15-Jul, 15-Oct | CDx3 Compliance Rating: |
Learn BFS.PRB's Rating
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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. Preferreds: BFS.PRA, BFS.PRB, BFS.PRC, BFS.PRD, BFS.PRE Open the BFS Information Page »
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Name: |
Saul Centers Inc |
Website: |
www.saulcenters.com |
Sector: |
REITs |
Number of ETFs Holding BFS: |
50 (see which ones) |
Total Market Value Held by ETFs: |
$127,194,904 |
Total Market Capitalization: |
$873,000,000 |
% of Market Cap. Held by ETFs: |
14.57% |
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