Urstadt Biddle Properties Inc. Announces Redemption of 6.75% Series G Cumulative Redeemable Preferred Stock
October 01 2019 - 4:15PM
Business Wire
On October 1, 2019, Urstadt Biddle Properties Inc. (the
"Company") (NYSE: UBPPRG), issued a notice of redemption to the
registered holders of its 6.75% Series G Cumulative Redeemable
Preferred Stock (the “Series G Preferred Stock”). The Company will
redeem all 3,000,000 outstanding shares of the Series G Preferred
Stock on November 1, 2019, the redemption date. The Series G
Preferred Stock will be redeemed at a redemption price of $25.00
per share. Since October 31, 2019 is a regular dividend payment
date for the Series G Preferred stock, no accrued and unpaid
dividends are included in the redemption price.
Dividends on the Series G Preferred Stock will cease to accrue
on the redemption date. From and after the redemption date, the
Series G Preferred Stock will no longer be deemed to be
outstanding, and all rights of the holders will terminate, except
only the right of the holders to receive, from and after the
redemption date, the redemption price, without interest. Because
the redemption is a redemption in full, the Series G Preferred
Stock will be delisted from trading on the New York Stock
Exchange.
All shares of the Series G Preferred Stock are held in
book-entry form through the Depository Trust Company (“DTC”) and
will be redeemed in accordance with the procedures of DTC. Payment
to DTC for the Series G Preferred Stock will be made by
Computershare Trust Company, N.A. as redemption agent. The address
for the redemption agent is as follows: Computershare Trust
Company, N.A., c/o Computershare Inc., 150 Royall Street, Canton,
MA 02021; Attention: Reorganization Department, Phone: (800)
546-5141.
About Urstadt Biddle Properties Inc.
Urstadt Biddle Properties Inc. is a self-administered equity
real estate investment trust which owns or has equity interests in
83 properties containing approximately 5.3 million square feet of
space. Listed on the New York Stock Exchange since 1970, it
provides investors with a means of participating in ownership of
income-producing properties. It has paid 198 consecutive quarters
of uninterrupted dividends to its shareholders since its inception
and has raised total dividends to its shareholders for the last 25
consecutive years.
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version on businesswire.com: https://www.businesswire.com/news/home/20191001006135/en/
Urstadt Biddle Properties Inc. Willing L. Biddle, President and
CEO John T. Hayes, Senior Vice President & CFO 203-863-8200
Urstadt Biddle Properties (NYSE:UBA)
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