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Public Storage, Var Rate Dep Shares Equity Stock, Series A
Ticker Symbol: PSA.A** CUSIP: 74460D729 Exchange: NYSE
* NOTE: This security is no longer trading as of 4/15/2010
Security has been Called for: Thursday, April 15, 2010
February 26, 2010 -- Public Storage announced today that it is calling for redemption all outstanding depositary shares representing interests in its Equity Shares, Series A (NYSE:PSA.A) on April 15, 2010 at $24.50 per share. The aggregate redemption amount to be paid to all holders of the depositary shares is approximately $205 million. On February 25, 2010, the reported closing price per depositary share of the Equity Shares, Series A was $25.40.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Public Storage, Inc., Depositary Shares, each representing 1/1000 of a share of Equity Stock, Series A, liquidation preference is the same amount payable per common share but can not exceed $24.50 per share, redeemable at the issuer's option on or after 3/31/2010 (changed from 3/31/2005 at the 5/10/2001 annual meeting) at $24.50 per share plus accrued and unpaid dividends, with no stated maturity, and with variable distributions paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the date fixed by the board, not more than 45 days or less than 15 days prior to the payment date. Dividends will be paid at the rate of five times the dividends paid on the common stock per depositary share with a maximum of $2.45 per annum. Dividends paid by preferreds issued by REITs are NOT eligible for the 15% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. In regard to the payment of dividends and upon liquidation, the equity stock rank junior to the preferred stocks and on a parity 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 - 4/6/2001 - 2.10 Million Shares @ $24.45/share.
Link to IPO Prospectus
Market Value $246.0 Million
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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 - Ronald L. Havner, Jr. |
CFO - E. John Reyes |
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