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Connecticut Water Service, Series A Cumul Voting Preferred
Ticker Symbol: CTWSO* CUSIP: 207797309 Exchange: OTCBB
* NOTE: This security is no longer trading as of 5/04/2018
Security has been Called for: Friday, May 4, 2018
From the form 8-K filed with the SEC on 4/3/2018 -- Item 8.01 Other Events.
As previously disclosed, the Agreement and Plan of Merger dated as of March 14, 2018, among SJW Group, Hydro Sub, Inc. and Connecticut Water Service, Inc. provides that, upon the terms and subject to the conditions set forth in the Merger Agreement, the Company is required to redeem all of the issued and outstanding shares of its cumulative Series A, $20 par value, voting preferred stock and all of the issued and outstanding shares of its cumulative Series $0.90, $16 par value, non-voting preferred stock as promptly as reasonably practicable after the date of the Merger Agreement. On April 3, 2018, the Company notified the holders of the Preferred Stock that it will redeem all of the issued and outstanding shares of the Series A Preferred Stock (CUSIP: 207797309) and all of the issued and outstanding shares of the Series $0.90 Preferred Stock (CUSIP: 207797200) on May 4, 2018. In accordance with the Amended and Restated Certificate of Incorporation of the Company, the Series A Preferred Stock will be redeemed on the Redemption Date for $21.00 per share, plus that portion of the quarterly dividend accrued thereon to the Redemption Date and all unpaid dividends thereon, if any, and the Series $0.90 Preferred Stock will be redeemed on the Redemption Date for $16.00 per share, plus that portion of the quarterly dividend accrued thereon to the Redemption Date and all unpaid dividends thereon (including, for the avoidance of doubt, the quarterly dividend of $0.225 per share of Series $0.90 Preferred Stock declared by the Board of Directors of the Company that is payable on May 4, 2018). On and after the Redemption Date, the Preferred Stock shall be deemed to no longer be outstanding, dividends thereon shall cease to accrue and all rights with respect to the Preferred Stock will cease and terminate, except for the right of the holders thereof to receive the applicable Redemption Price for the shares of Preferred Stock so redeemed, but without interest, upon surrender of such shares.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Connecticut Water Service, Inc., Cumulative Series A Voting, $20 par value, redeemable anytime at the issuer's option at $21 per share plus accrued dividends, with no stated maturity, and with distributions paid quarterly on 1/15, 4/15, 7/15 & 10/15. 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.
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Go to Parent Company's Record (CTWS)
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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: 93 West Main Street, Clinton, CT 06413 |
| Main Phone Number |
860-669-8636 |
| Fax Number |
860-669-5579 |
| Investor Contact (CFO)
David C. Benoit
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860-669-8630
Ext: 3030
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| Toll Free Phone Number |
800-428-3985 |
| CEO - Eric W. Thornburg |
CFO - David C. Benoit |
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