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Navistar International Corp. | Var Rate Series D Cumul Convertible Junior Pref Stock (NAV.PRD)
Prospectus excerpt: Navistar Intl Corp., Series D Cumulative Convertible Junior Preference Stock with an optional redemption price and liquidation preference of $25 per share. The Series D converts into common stock at 0.3125 per share. Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders. The shares rank senior to common stock as to dividends and liquidation and receive dividends at 120% of the common stock dividend as declared on an as-converted basis. , Secondary Prospectus PDF », NAV Page »
| Series: | D | | Alternate symbology: | NAV-D, NAV-PD, NAVprD | | Redeemable?: | Yes | | Call Date: | 7/1/2021 (Now Trading Post Call Date) | | Perpetual?: | Yes | | Cumulative?: | Yes | | Liquidation Preference: | $25.00 | | Original Coupon: | Var Rate | | CDx3 Compliance Rating: |
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Navistar International is a holding company. Through its subsidiaries, Co. is a manufacturer of International® brand commercial trucks, proprietary diesel engines, and IC Bus® (IC) brand school and commercial buses. Co.'s segments include: Truck, which manufactures and distributes trucks and buses along with production of proprietary engines; Parts, which provides proprietary products to support the International commercial truck, IC Bus, proprietary engine lines, and export parts business; and Global Operations, which consists of the operations of its subsidiary, International Industria Automotiva da America do Sul Ltda. that manufactures and distributes mid-range diesel engines. Preferred: NAV.PRD
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