Preferred Stock Channel
CenterPoint Energy, Inc | 7.00% Series B Mandatory Convertible Preferred Stock (CNP.PRB)

Prospectus excerpt:  We are offering 17,000,000 depositary shares, each of which represents a 1/20th interest in a share of our 7.00% Series B Mandatory Convertible Preferred Stock, $0.01 par value per share, which we refer to in this prospectus supplement as our Series B Preferred Stock. The shares of our Series B Preferred Stock will be deposited with Broadridge Corporate Issuer Solutions, Inc., as depositary, pursuant to a deposit agreement. Holders of our depositary shares will be entitled to a proportional fractional interest in the rights and preferences of our Series B Preferred Stock, including conversion, dividend, liquidation and voting rights, subject to the provisions of such deposit agreement. Dividends on our Series B Preferred Stock will be payable on a cumulative basis when, as and if declared by our board of directors, or an authorized committee of our board of directors, at an annual rate of 7.00% on the liquidation preference of $1,000 per share. We may pay declared dividends in cash or, subject to certain limitations, in shares of our common stock, par value $0.01 per share, or in any combination of cash and shares of our common stock on March 1, June 1, September 1 and December 1 of each year, commencing on December 1, 2018 and ending on, and including, September 1, 2021.

Full Prospectus PDF », CNP Page »

Series:B
Alternate symbology:CNP-B, CNP-PB, CNPprB
Redeemable?:Yes
Call Date:9/1/2021
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:17,000,000
Overallotment:2,550,000
Liquidation Preference:$25
Recent Market Price:$26.07
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$1.07 (4.28%)
Original Coupon:7.00%
Pay Period:Quarterly
Pay Dates:1-Mar, 1-Jun, 1-Sep, 1-Dec
CenterPoint Energy owns interests in Enable Midstream Partners, LP. Co.'s subsidiaries own and operate electric transmission and distribution, electric generation and natural gas distribution facilities, supply natural gas to commercial and industrial customers and electric and natural gas utilities and provide underground pipeline construction and repair services, energy performance contracting and sustainable infrastructure services. Co.'s segments include: Houston Electric T&D, which consists of electric transmission and distribution services in the Texas Gulf Coast area; and Energy Services, which consists of non-rate regulated natural gas sales and services operations.

Preferred: CNP.PRB


Open the CNP Information Page »
Name:  CenterPoint Energy, Inc
Website:  www.centerpointenergy.com
Sector:  Electric Utilities
Number of ETFs Holding CNP:  93 (see which ones)
Total Market Value Held by ETFs:  $1,085,407,158
Total Market Capitalization:  $7,092,000,000
% of Market Cap. Held by ETFs:  15.30%

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