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Taubman Centers, 8.00% Series G Cumulative Redeemable Preferred Stock
Ticker Symbol: TCO-G* CUSIP: 876664301 Exchange: NYSE
* NOTE: This security is no longer trading as of 9/10/2012
Security has been Called for: Tuesday, September 4, 2012
From the news release issued 8/8/2012 -- On August 3, 2012, the company provided notice to redeem its $100 million 8% Series G Cumulative Redeemable Preferred Stock (NYSE:TCO PR G) at a price of $25.00 plus accrued and unpaid dividends of $0.35 per share on September 4, 2012. The company also provided notice to redeem its $87 million 7.625% Series H Cumulative Redeemable Preferred Stock (NYSE:TCO PR H) at a price of $25.00 plus accrued and unpaid dividends of $0.33359375 per share on September 4, 2012. The redemptions will be funded by the company's issuance of the Series J preferred stock and if necessary, funds from its revolving lines of credit. The company will recognize a $6.4 million charge upon redemption, representing the difference between the face value and the book value of the preferred stock redeemed.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Taubman Centers, Inc., 8.00% Series G Cumulative Redeemable Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 11/23/2009 at $25 per share plus accrued and unpaid dividends, with no stated maturity, and with distributions of 8.00% ($2.00) per annum paid quarterly on or about 3/31, 6/30, 9/30 & 12/31 to holders of record on the 15th day of the month in which the payment is made or on the date fixed by the board of directors, not more than 30 days or less than 10 days prior to the payment date. 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 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 (TCO*)
IPO - 11/17/2004 - 4.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $100.0 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: 200 East Long Lake Road, Suite 300, Blomfield Hills, MI 48304 |
| Main Phone Number |
248-258-6800 |
| Fax Number |
248-258-7697 |
| Investor Relations
Barbara K. Baker
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248-258-7367
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Toll Free Phone Number |
Unknown |
| CEO - Robert S. Taubman |
CFO - Lisa A. Payne |
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