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Public Storage, 4.90% Dep Shares of Cumulative Preferred Share Series E
Ticker Symbol: PSA-E* CUSIP: 74460W719 Exchange: NYSE
* NOTE: This security is no longer trading as of 12/30/2021
Security has been Called for: Thursday, December 30, 2021
November 29, 2021 -- Public Storage (NYSE:PSA) announced today that it is calling for redemption all outstanding depositary shares representing interests in its 4.90% Cumulative Preferred Shares, Series E (NYSE:PSAPrE) on December 30, 2021 at $25 per depositary share. The aggregate redemption amount to be paid to all holders of the depositary shares is $350,000,000.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Public Storage, 4.90% Depositary Shares of Cumulative Preferred Share Series E each representing 1/1000 Cumulative Preferred Shares of Beneficial Interest, Series E, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 10/14/2021 at $25 per depositary share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 4.90% per annum ($1.2250 per annum or $0.30625 per quarter) are paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the record date fixed by the board, not more than 60 days or less than 30 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). Dividends paid by preferreds issued by REITs are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. This security was rated as A3 by Moody's and BBB+ by S&P at the date of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (PSA)
IPO - 10/6/2016 - 14.00 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: PBSRP Changed: 10/17/2016
Market Value $350.0 Million
Company's Online Information Links
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Company's Online SEC EDGAR Filings |
Company's Email Address Links |
Address and Phone Numbers |
Address: 701 Western Avenue, Glendale, CA 91201 |
Main Phone Number |
818-244-8080 |
Fax Number |
818-553-2388 |
Investor Contact
Ryan Burke
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818-244-8080
Ext: 1141
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Toll Free Phone Number |
800-447-8673 |
CEO - Joseph D. Russell, Jr. |
CFO - Tom Boyle |
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