|
General Motors Co., 4.75% Series B Mand Conv Junior Preferred Stock 12/1/2013
Ticker Symbol: GM-B* CUSIP: 37045V209 Exchange: NYSE
* NOTE: This security is no longer trading as of 12/01/2013
|
QUANTUMONLINE.COM SECURITY DESCRIPTION: General Motors Co., 4.75% Series B Mandatory Convertible Junior Preferred Stock, liquidation preference $50 per share. The preferred shares are mandatorily convertible on 12/1/2013 into a variable number of General Motors Co. (NYSE: GM) common shares based on the then current price of the common shares for 40 consecutive trading days ending the third day prior to the mandatory conversion date. The conversion settlement rate will be 1.2626 shares per unit if the then current market price is equal to or greater than $39.60 and 1.5152 shares per unit if the market price is equal to or less than $33.00. For market prices between those values the settlement rate will be $50 divided by the market value. The public offering sale price of the common stock on 11/18/2010 was $33.00 per share. The preferred shares are convertible any time at the holder’s option into 1.2626 shares of common stock. Cumulative distributions of 4.75% ($2.375) per annum will be paid quarterly in cash or common stock on 3/1, 6/1, 9/1 & 12/1 to holders of record on 2/15, 5/15, 8/15 & 11/15 respectively (NOTE: the ex-dividend date is at least 2 business days prior to the record date). 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. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to other senior preferreds of the company and senior to the common shares of the company. See the IPO prospectus for further information on the mandatory convertible preferred stock and their mandatory conversion provisions by clicking on the ‘Link to IPO Prospectus’ provided below.
|
Stock
Exchange |
Cpn Rate
Ann Amt |
LiqPref
CallPrice |
Call Date
Matur Date |
Moodys/S&P
Dated |
Conversion
Shares@Price |
Distribution Dates |
15%
Tax Rate |
NYSE
Chart
|
4.75%
$2.375
|
$50.00
n.a.
|
12/01/2013
12/01/2013
|
NF NF
12/29/2017
|
1.2626@$39.60+
1.5152@$33.00-
|
3/1, 6/1, 9/1 & 12/1
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
|
YES
|
Go to Parent Company's Record (GM)
IPO - 11/18/2010 - 87.00 Million Shares @ $50.00/share.
Link to IPO Prospectus
Market Value $4.3 Billion
|
Company's Online Information Links
|
| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 300 Renaissance Center, Detroit, MI 48265 |
| Main Phone Number |
313-556-5000 |
| Fax Number |
313-556-5108 |
| Investor Relations
Reneé Rashid-Merem
|
313-665-3128
|
| Toll Free Phone Number |
800-561-4182 |
| CEO - Daniel F. Akerson |
CFO - Christopher P. Liddell |
Find a problem? Please use our Feedback Page or Email us.
Have you filled out our Guestbook? If not, please do.
|
|
