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Canadian Utilities Ltd | Cumulative Redeemable Second Preferred Shares Series DD (CU.PRG.CA)
Prospectus excerpt: The holders of the Cumulative Redeemable Second Preferred Shares Series DD (the "Series DD Preferred Shares") of Canadian Utilities Limited (the "Corporation") will be entitled to receive, as and when declared by the board of directors of the Corporation (the "Board of Directors"), fixed cumulative preferential cash dividends at a rate of $1.125 per share per annum, to accrue from the date of original issue, payable quarterly on the first day of March, June, September and December of each year. Assuming an issue date of May 15, 2013 the first dividend, if declared, will be payable September 1, 2013 in the amount of $0.3360 per Series DD Preferred Share. On or after September 1, 2018, the Corporation may, at its option on not less than 30 nor more than 60 days prior notice, redeem for cash the Series DD Preferred Shares, in whole at any time or in part from time to time, at $26.00 per share if redeemed during the 12 months commencing September 1, 2018, at $25.75 per share if redeemed during the 12 months commencing September 1, 2019, at $25.50 per share if redeemed during the 12 months commencing September 1, 2020, at $25.25 per share if redeemed during the 12 months commencing September 1, 2021, and at $25.00 per share if redeemed on and after September 1, 2022, in each case together with all accrued and unpaid dividends to but excluding the date of redemption. See "Details of the Offering". Full Prospectus PDF », CU.CA Page »
Series: | DD | Alternate symbology: | CU-G.CA, CU-PG.CA, CUprG.CA | Redeemable?: | Yes | Call Date: | 9/1/2022 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | Yes | Shares Offered: | 9000000 | Liquidation Preference: | $25 | Recent Market Price: | $17.65 | Discount to Liquidation Preference: (More Preferreds Trading at a Discount ») | $-7.35 (-29.40%) | Annualized Dividend: | 1.125 | Recent Ex-Date: | 5/1/2024 | Current Yield: | 6.37% | Original Coupon: | 4.50% | Pay Period: | Quarterly | Pay Dates: | 1-Mar, 1-Jun, 1-Sep, 1-Dec | CDx3 Compliance Rating: |
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Canadian Utilities is engaged in the following business activities: Utilities (electricity and natural gas transmission and distribution, and international electricity operations); Energy Infrastructure (electricity generation, energy storage, and industrial water solutions); and; and Retail Energy (electricity and natural gas retail sales and whole-home solutions). The Energy Infrastructure non-regulated businesses include: hydro, solar and natural gas electricity generation, as well as non-regulated electricity transmission, natural gas storage and transmission, Natural Gas Liquids storage, industrial water solutions, and renewable natural gas production in Alberta. Preferreds: CIU.PRA.CA, CIU.PRB.CA, CIU.PRC.CA, CU.PRC.CA, CU.PRD.CA, CU.PRE.CA, CU.PRF.CA, CU.PRG.CA Open the CU.CA Information Page »
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