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CBL & Associates Properties Inc | 6.625% Series E Cumulative Redeemable Preferred Stock (CBL.PRE)
Prospectus excerpt: 6,000,000 depositary shares, each representing 1/10th of a share of our 6.625% Series E cumulative redeemable preferred stock, $.01 par value per share (or 6,900,000 depositary shares if the underwritersÆ option to purchase additional depositary shares is exercised in full). We will pay cumulative dividends on the shares of our Series E preferred stock underlying the depositary shares offered hereby in the amount of $1.65625 per depositary share for each full year, which is equivalent to 6.625% of the $25.00 liquidation preference per depositary share. Dividends will be payable quarterly in arrears on the 30th day of March, June, September and December of each year, as, when and if declared by our board of directors. The first dividend on the shares of our Series E preferred stock underlying the depositary shares offered hereby will be payable on December 30, 2012, and such dividend will be in the amount of $0.39106 per depositary share. Any dividend payable on the shares of Series E preferred stock underlying the depositary shares for any partial dividend period shall be computed on the basis of a 360-day year consisting of twelve 30-day months. Dividends on shares of our Series E preferred stock underlying the depositary shares will continue to accrue even if we do not have earnings or funds legally available to pay such dividends or we do not declare the payment of dividends. $25.00 per depositary share ($250.00 per underlying share of Series E preferred stock), plus an amount equal to accrued and unpaid dividends, whether or not declared. Full Prospectus PDF », CBL Page »
Series: | E | Alternate symbology: | CBL-E, CBL-PE, CBLprE | Redeemable?: | Yes | Call Date: | 10/5/2017 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | Yes | Shares Offered: | 6,000,000 | Overallotment: | 900,000 | Liquidation Preference: | $25 | Original Coupon: | 6.63% | Pay Period: | Quarterly | Pay Dates: | 30-Mar, 30-Jun, 30-Sep, 30-Dec | CDx3 Compliance Rating: |
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CBL & Associates Properties is a self-managed and self-administered real estate investment trust. Co. owns, develops, acquires, leases, manages, and operates regional shopping malls, open-air and mixed-use centers, outlet centers, associated centers, community centers, office and other properties. Co.'s properties are located in several states, but are primarily in the southeastern and midwestern U.S. Co. conducts substantially all of its business through CBL & Associates Limited Partnership. Co. also conducts its property management and development activities through its subsidiary, CBL & Associates Management, Inc. Preferreds: CBL.PRC, CBLDQ, CBLEQ Open the CBL Information Page »
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