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SunTrust Banks, Variable Rate Dep Shares Perpetual Preferred Stock, Series A
Ticker Symbol: STI-A* CUSIP: 867914509 Exchange: NYSE
* NOTE: This security is no longer trading as of 12/06/2019
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QUANTUMONLINE.COM SECURITY DESCRIPTION: SunTrust Banks, Variable Rate Depositary Shares each representing 1/4,000 interest in a share of Perpetual Preferred Stock, Series A, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 9/15/2011 at $25 per depositary share plus (at the IPO) accrued and unpaid dividends, and with no stated maturity. Variable rate distributions are paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the date fixed by the board (NOTE: the ex-dividend date is one business day prior to the record date). The variable rate distributions will be paid at a rate equal to the greater of the Three-Month LIBOR plus 0.53% or 4.00%. The dividends paid by this preferred are cumulative at the date of issue but are expected to become non-cumulative in April 2007 when an amendment to the articles of incorporation allowing non-cumulative distributions is expected to be passed by shareholders. 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 (see page S-32 of the prospectus for further information). In regards to 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 (STI*)
Notes: Dec 06, 2019 -- Converted to Truist Financial Corp, Series I Non-Cumulative Perpetual Preferred Stock (TFC-I). _______________ Feb 07, 2019 -- BB&T and SunTrust to Combine in Merger of Equals. The Combined company to operate under a new name and be headquartered in Charlotte, NC while maintaining significant operations and investment in Winston-Salem, NC and Atlanta, GA. The merger is expected to close in the fourth quarter of 2019, subject to satisfaction of customary closing conditions, including receipt of customary regulatory approvals and approval by the shareholders of each company.
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IPO - 9/6/2006 - 20.00 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: STIKN Changed: 9/14/2006
Market Value $500.0 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: 303 Peachtree Street N.E., Atlanta, GA 30308 |
| Main Phone Number |
800-786-8787 |
| Fax Number |
404-332-3875 |
| Investor Relations
Leisa Branch
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800-324-8093
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| Toll Free Phone Number |
800-786-8787 |
| CEO - William H. Rogers, Jr. |
CFO - L. Allison Dukes |
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