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Xerox Corp., 6.25% Series C Mand Conv Preferred Stock due 7/1/2006
Ticker Symbol: XRX-C* CUSIP: 984121509 Exchange: NYSE
* NOTE: This security is no longer trading as of 7/01/2006
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Xerox Corp., 6.25% Series C Mandatory Convertible Preferred Stock, liquidation preference $100 per share. The preferred shares are mandatorily convertible on 7/01/2006 into a variable number of Xerox Corp. (NYSE: XRX) common shares based on the then current price of the common shares for 20 consecutive trading days immediate prior to the conversion date. The conversion settlement rate will be 8.1301 shares per unit if the then current market price is equal to or greater than $12.30 and 9.7561 shares per unit if the market price is equal to or less than $10.25. For market prices between those values the settlement rate will be $100 divided by the market value. The last reported sale price of the common stock on 6/19/2003 was $10.40. The preferred shares are convertible any time at the holders option into 8.1301 shares of common stock. If the price of the common stock exceeds $18.45 for at least 20 of 30 trading days, the company may cause the conversion of the preferred stock into 8.1301 shares of common stock. Distributions of 6.25% ($6.25) per annum will be paid quarterly in cash or common stock on 1/1, 4/1, 7/1 & 10/1 to holders of record on the date fixed by the board, not more than 40 days days prior to the payment date. In regards to payment of dividends and upon liquidation, the preferred shares rank 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 mandatory convertible preferred stock and their mandatory conversion provisions by clicking on the ‘Link to IPO Prospectus’ provided below.
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Stock
Exchange |
Cpn Rate
Ann Amt |
LiqPref
CallPrice |
Call Date
Matur Date |
Moodys/S&P
Dated |
Conversion
Shares@Price |
Distribution Dates |
15%
Tax Rate |
NYSE
Chart
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6.25%
$6.25
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$100.00
n.a.
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7/01/2006
7/01/2006
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B1
B-
12/29/2005
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8.1301@$12.30+
9.7561@$10.25-
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1/1, 4/1, 7/1 & 10/1
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
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YES
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Go to Parent Company's Record (XRX)
IPO - 6/23/2003 - 8.00 Million Shares @ $100.00/share.
Link to IPO Prospectus
Market Value $800.0 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: P.O. Box 1600, Stamford, CT 06904 |
| Main Phone Number |
203-968-3000 |
| Fax Number |
203-968-3430 |
| Media Relations
Christa Carone
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585-423-5074
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| Toll Free Phone Number |
800-828-6396 |
| CEO - Anne M. Mulcahy |
PFO - Lawrence A. Zimmerman |
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