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CMS Energy Corp | 4.20% Cumulative Redeemable Preferred Stock, Series C (CMS.PRC)
Prospectus excerpt: We are offering 9,200,000 depositary shares, each representing a 1/1,000th interest in a share of our 4.200% Cumulative Redeemable Perpetual Preferred Stock, Series C, with a $25,000 liquidation preference per share (equivalent to $25.00 per depositary share), which we refer to as the “Series C Preferred Stock”, and which will be deposited with the depositary described below. As a holder of depositary shares, you will be entitled to all proportional rights and preferences of the Series C Preferred Stock (including dividend, voting, redemption and liquidation rights). You must exercise those rights through Equiniti Trust Company d/b/a EQ Shareowner Services, as the depositary for the shares of Series C Preferred Stock. The depositary shares are evidenced by depositary receipts. We will pay cash dividends on the Series C Preferred Stock when, as and if declared by our board of directors, or a duly authorized committee of our board of directors, out of funds legally available for payment, at the rate per annum of 4.200% on the $25,000 liquidation preference per share of Series C Preferred Stock. Declared dividends on the Series C Preferred Stock will be payable in arrears on January 15, April 15, July 15 and October 15 of each year, commencing on October 15, 2021. Dividends on the Series C Preferred Stock will accumulate daily from and including the most recent date as to which dividends have been paid or, if no dividends have been paid, from the original issue date of the Series C Preferred Stock, which we refer to as the “Initial Issue Date”. See “Certain Terms of the Series C Preferred Stock—Dividends”. Full Prospectus PDF », Secondary Prospectus PDF », CMS Page »
Series: | C | Alternate symbology: | CMS-C, CMS-PC, CMSprC | Redeemable?: | Yes | Call Date: | 7/15/2026 | Perpetual?: | Yes | Cumulative?: | Yes | Shares Offered: | 9,200,000 | Liquidation Preference: | $25.00 | Recent Market Price: | $19.27 | Discount to Liquidation Preference: (More Preferreds Trading at a Discount ») | $-5.73 (-22.92%) | Annualized Dividend: | 1.05 | Recent Ex-Date: | 3/28/2024 | Current Yield: | 5.45% | Original Coupon: | 4.20% | Pay Period: | Quarterly | Pay Dates: | 15-Jan, 15-Apr, 15-Jul, 15-Oct | CDx3 Compliance Rating: |
Learn CMS.PRC's Rating
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CMS Energy is a holding company. Through its subsidiaries, Co. is an energy company. Co.'s subsidiaries include Consumers Energy Company, which is an electric and gas utility; and CMS Enterprises Company, which is a power producer and marketer. Co.'s segments are: electric utility, which includes the generation, purchase, distribution, and sale of electricity; gas utility, which includes the purchase, transmission, storage, distribution, and sale of natural gas; and enterprises, its non-utility operations and investments, which engages in domestic independent power production, including the development and operation of renewable generation, and the marketing of independent power production. Preferreds: CMS.PRB, CMS.PRA, CMS.PRC Open the CMS Information Page »
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Name: |
CMS Energy Corp |
Website: |
www.cmsenergy.com |
Sector: |
Electric Utilities |
Number of ETFs Holding CMS: |
104 (see which ones) |
Total Market Value Held by ETFs: |
$3,469,452,826.53 |
Total Market Capitalization: |
$17,112,000,000 |
% of Market Cap. Held by ETFs: |
20.27% |
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