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UMH Properties, 8.25% Series A Cumulative Redeemable Preferred Stock
Ticker Symbol: UMH-A* CUSIP: 903002202 Exchange: NYSE
* NOTE: This security is no longer trading as of 8/31/2017
Security has been Called for: Thursday, August 31, 2017
July 31, 2017 -- UMH Properties, Inc. today announced that it will redeem all 3,663,800 issued and outstanding shares of its 8.25% Series A Cumulative Redeemable Preferred Stock (CUSIP 903002202) on August 31, 2017. The Series A Preferred Stock will be redeemed at a redemption price of $25.00 per share, which equals the liquidation preference of the Series A Preferred Stock. The quarterly dividend on the Series A Preferred Stock accruing through the Redemption Date will be paid on September 15, 2017 to holders of record as of the August 15, 2017 record date previously established by the Company's Board of Directors and accordingly such dividends will not be included in the Redemption Price. After the Redemption Date, the Series A Preferred Stock will no longer be outstanding and all of the rights of the holders of the Series A Preferred Stock will terminate, except the right to receive the Redemption Price and the right of holders as of the August 15, 2017 record date to receive the quarterly dividend payable on September 15, 2017 as described above. Series A Preferred Stock held through the Depository Trust Company will be redeemed in accordance with the applicable procedures of the Depositary Trust Company. Because all of the issued and outstanding shares of Series A Preferred Stock are being redeemed, trading of the Series A Preferred Stock on the New York Stock Exchange ("NYSE") will cease after the Redemption Date. The Series A Preferred Stock currently trades on the NYSE under the symbol "UMH.PRA".
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QUANTUMONLINE.COM SECURITY DESCRIPTION: UMH Properties, Inc. 8.25% Series A Cumulative Redeemable Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 5/26/2016 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 8.25% per annum ($2.0625 per annum or $0.525625 per quarter) will be paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the record date fixed by the board, not more than 30 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is at least 2 business days prior to the record date). Upon the occurrence of a delisting event or a change of control the company will have the option to redeem the preferred shares at $25 per share plus accrued and unpaid dividends. If the company has exercised their conversion right, the holders will not have the following conversion right. Upon the occurrence of a delisting event or a change of control, and the company has not provided notice that they intend to redeem the preferred shares, the holder will have the right to convert the preferred shares into common shares under certain circumstances (see the prospectus for details). 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. In regard to the payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds 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 (UMH)
IPO - 5/20/2011 - 3.66 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $91.6 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: 3499 Route 9 North, Suite 3-C, Freehold, NJ 07728 |
| Main Phone Number |
732-577-9997 |
| Fax Number |
Not Available |
| Investor Relations
Nelli Madden
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732-577-4062
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| Toll Free Phone Number |
800-504-0670 |
| CEO - Samuel A. Landy |
CEO - Michael P. Landy |
CFO - Anna T. Chew |
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