|
Ally Financial, 8.50% Fixed Rate/Floating Rate Perp Preferred Stock, Series A
Ticker Symbol: ALLY-B* CUSIP: 02005N308 Exchange: NYSE
* NOTE: This security is no longer trading as of 5/16/2016
Security has been Called for: Monday, May 16, 2016
April 14, 2016 -- Ally Financial Inc. today announced that it is calling for redemption the remaining 27,870,560 shares of its Fixed Rate/Floating Rate Perpetual Preferred Stock, Series A. The shares will be redeemed at a price of $25.00 per share. The redemption date will be May 16, 2016. The final quarterly dividend payment of approximately $14.8 million, or $0.53 per share, was declared on the Series A Preferred Stock, and is payable to shareholders of record as of May 1, 2016 (Record Date). This dividend was declared by the board of directors on April 11, 2016, and is payable on May 16, 2016. Holders of the Series A Preferred Stock to be redeemed as of the Record Date will be entitled to receive the dividend stated above immediately prior to redemption of such shares on May 16, 2016. ____________ April 23, 2015 -- Ally Financial Inc. today announced that it has commenced an offer to purchase up to 13,000,000 shares of its outstanding Fixed Rate/Floating Rate Perpetual Preferred Stock, Series A for $26.65 per Series A Share. The Offer Price represents the total consideration payable per share and includes an amount equal to accrued and unpaid dividends from May 15, 2015, the last dividend payment date, to, but not including, the settlement date for the purchase of the Series A Shares. The Offer will expire at 11:59 p.m., New York City time, on May 20, 2015, unless extended or terminated earlier by Ally. The Series A Shares are listed on the New York Stock Exchange under the symbol "ALLY PRB." The CUSIP number for the Series A Shares is 02005N308. If, at the Expiration Date, more than 13,000,000 Series A Shares have been validly tendered and not validly withdrawn, and all conditions to the Offer have been satisfied or waived, Ally will accept for purchase 13,000,000 Series A Shares from the tendering holders on a pro rata basis based on the number of Series A Shares tendered by each holder, except that Ally will not purchase fractional Series A Shares.
|
|
QUANTUMONLINE.COM SECURITY DESCRIPTION: Ally Financial, Fixed Rate/Floating Rate Perpetual Preferred Stock, Series A, liquidation preference $25 per share, redeemable at the issuer's option on or after 5/15/2016 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Non-cumulative fixed rate distributions of 8.50% ($2.125) per annum will be paid quarterly through 5/14/2016 on 2/15, 5/15, 8/15 & 11/15 to holders of record on the record date of 2/1, 5/1, 8/1 & 11/1 respectively or on the record date fixed by the board, not more than 70 days prior to the payment date (NOTE: the ex-dividend date is at least 2 business days prior to the record date). Beginning on May 15, 2016, dividends will accrue at an amount per annum equal to Three-Month LIBOR plus 6.243%. The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate. 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-23 of the prospectus for further information). In regard to the payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the junior preferred stocks and 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.
|
Go to Parent Company's Record (ALLY)
IPO - 3/23/2011 - 40.87 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $1.0 Billion
|
Company's Online Information Links
|
| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 200 Renaissance Center, Detroit, MI 48265 |
| Main Phone Number |
866-710-4623 |
| Fax Number |
Not Available |
| Investor Relations
Gina Proia
|
646-781-2692
|
| Toll Free Phone Number |
866-710-4623 |
Find a problem? Please use our Feedback Page or Email us.
Have you filled out our Guestbook? If not, please do.
|
|
