Preferred Stock Channel
Triton International Ltd | 7.375% Series C Cumulative Redeemable Perpetual Preference Shares (TRTN.PRC)

Prospectus excerpt:  We are offering 7,000,000 of our 7.375% Series C Cumulative Redeemable Perpetual Preference Shares, liquidation preference $25.00 per share (the ́Series C Preference Sharesî). Dividends on the Series C Preference Shares are cumulative from the date of original issue and will be payable quarterly in arrears on the 15th day of March, June, September and December of each year, when, as and if declared by our board of directors or any authorized committee thereof. Dividends will be payable out of amounts legally available therefor at the rate equal to 7.375% per annum of the $25.00 liquidation preference per share, or $1.84375 per share per year. The initial dividend on the Series C Preference Shares offered hereby, if declared, will be payable on December 15, 2019 in an amount equal to $0.19462 per share. At any time on or after December 15, 2024 the Series C Preference Shares may be redeemed, in whole or in part, out of funds legally available therefor, at a redemption price of $25.00 per share plus an amount equal to all accumulated and unpaid dividends thereon to, but not including, the date of redemption, whether or not declared.

Full Prospectus PDF », Secondary Prospectus PDF », TRTN Page »

Series:C
Alternate symbology:TRTN-C, TRTN-PC, TRTNprC
Redeemable?:Yes
Call Date:12/15/2024
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:7,000,000
Liquidation Preference:$25.00
Recent Market Price:$24.65
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-0.35 (-1.40%)
Annualized Dividend:1.84375
Recent Ex-Date:3/7/2024
Current Yield:7.48%
Original Coupon:7.38%
Pay Period:Quarterly
Pay Dates:15-Mar, 15-Jun, 15-Sep, 15-Dec
CDx3 Compliance Rating: Learn TRTN.PRC's Rating
Triton International, through its subsidiaries, leases intermodal transportation equipment, primarily maritime containers, and provides maritime container management services through a worldwide network of service subsidiaries, third-party depots and other facilities. Co. has two business segments: equipment leasing, which includes the acquisition, leasing, re-leasing and sale of multiple types of intermodal transportation equipment, primarily intermodal containers; and equipment trading, which purchases containers from shipping line customers, and other sellers of containers, and resells these containers to container retailers and users of containers for storage or one-way shipment.

Preferreds: TRTN.PRA, TRTN.PRB, TRTN.PRC, TRTN.PRD, TRTN.PRE


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Name:  Triton International Ltd
Website:  www.trtn.com
Sector:  Business Services & Equipment

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