Prospectus excerpt: Corporate Office Properties Trust is a real estate investment trust that owns and operates suburban office properties located in the Mid-Atlantic region. As of June 30, 2003, we owned a total of 113 suburban office properties, including three properties owned through joint ventures, encompassing 9.5 million square feet.
We will pay quarterly cumulative dividends, in arrears, on the Series G Preferred Shares from the date of original issue. These dividends will be payable on January 15, April 15, July 15 and October 15 of each year, when and as declared, beginning on October 15, 2003, at a yearly rate of 8% of the $25.00 liquidation preference, or $2.00 per Series G Preferred Share per year. We may not redeem the Series G Preferred Shares prior to August 11, 2008, except as necessary to preserve our status as a real estate investment trust. On or after August 11, 2008, we may, at our option, redeem the Series G Preferred Shares, in whole or from time to time in part, for $25.00 per Series G Preferred Share in cash plus any accrued and unpaid dividends through the date of redemption. The Series G Preferred Shares have no stated maturity, are not subject to any sinking fund and will remain outstanding indefinitely unless we redeem them.
The underwriters have an option to purchase a maximum of 200,000 additional Series G Preferred Shares to cover over-allotments.