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Health Care REIT, 7.50% Series G Cumul Convertible Preferred Stock
Ticker Symbol: HCN-G* CUSIP: 42217K502 Exchange: NYSE
* NOTE: This security is no longer trading as of 9/30/2010
Security has been Called for: Thursday, September 30, 2010
August 31, 2010 -- Health Care REIT, Inc. today announced plans to redeem all 313,972 shares of its 7.5% Series G Cumulative Convertible Redeemable Preferred Stock (NYSE: HCN PrG, CUSIP: 42217K 502) on September 30, 2010 at a redemption price of $25.00 per share plus accrued and unpaid dividends through September 30, 2010. The Notice of Redemption was mailed to holders of record of the Series G Preferred Stock on August 31, 2010. Questions related to the Notice of Redemption should be directed to the redemption agent, BNY Mellon Shareowner Services, Attn: Corporate Action Dept., 27th Floor, 480 Washington Boulevard, Jersey City, NJ 07310 or by calling 1-800-777-3674. Holders of the Series G Preferred Stock may exercise their conversion rights until the close of business on September 30, 2010. The shares of Series G Preferred Stock are convertible into common shares of the company at a rate of 0.7157 shares of Series G Preferred Stock per common share.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Health Care REIT Inc., 7.50% Series G Cumulative Convertible Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 6/30/2010 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Distributions of 7.50% ($1.875) per annum are paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the last calendar day of the month prior to the payment date or on the date fixed by the board, not more than 30 days or less than 10 days prior to the payment date. The preferred shares are convertible any time at the holder's option into 0.71571 (calculated) common shares of Health Care REIT Inc. (NYSE: HCN), an initial conversion price of $34.93 per common share. 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 page 79 of the IPO prospectus for further information on the convertible preferred stock 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 |
Conv Shrs
Conv Price |
Distribution Dates |
15%
Tax Rate |
NYSE
Chart
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7.50%
$1.875
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$25.00
$25.00
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Called for
9/30/2010
None
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Baa3
BB
9/23/2010
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0.71571
$34.93
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1/15, 4/15, 7/15 & 10/15
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
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No
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Go to Parent Company's Record (WELL)
IPO - 6/28/2005 - 2.10 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $65.1 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: 4500 Dorr Street, Toledo, OH 43615 |
| Main Phone Number |
419-247-2800 |
| Fax Number |
419-247-2826 |
| Investor Contact (CFO)
Scott A. Estes
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419-247-2800
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| Toll Free Phone Number |
877-670-0070 |
| CEO - George L. Chapman |
CFO - Scott A. Estes |
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