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Welltower, Inc., 6.50% Series J Cumulative Redeemable Preferred Stock
Ticker Symbol: HCN-J* CUSIP: 95040Q302 Previous CUSIP: 42217K700 Exchange: NYSE
* NOTE: This security is no longer trading as of 3/07/2017
Security has been Called for: Tuesday, March 7, 2017
February 2, 2017 -- Welltower Inc. (HCN) today announced that it will redeem all 11,500,000 shares of its 6.50% Series J Cumulative Redeemable Preferred Stock (NYSE: HCN PrJ, CUSIP: 42217K 700) on March 7, 2017 at a redemption price of $25.00 per share plus accrued and unpaid dividends to, but not including, March 7, 2017. The notice of redemption was delivered today to holders of record of the Series J Preferred Stock. Questions relating to and requests for additional copies of the notice of redemption should be directed to the redemption agent, Computershare Trust Company, N.A., c/o Voluntary Corporate Actions, 250 Royall Street, Suite V, Canton, MA 02021, at 888-216-7206.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Welltower, Inc., formerly Health Care REIT, Inc., 6.50% Series J Cumulative Redeemable Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 3/7/2017 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 6.50% ($1.625) per annum are paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date that will be the first calendar day of the month in which the payment is due or on the record date fixed by the board, not more than 30 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is at least 2 business days prior to the record date). Upon the occurrence of a change of control the company will have the option to redeem the preferred shares at $25 per share plus accrued and unpaid dividends. If the company has exercised their redemption right, the holders will not have the following conversion right. Upon the occurrence of a change of control, and the company has not provided notice that they intend to redeem the preferred shares, the holder will have the right to convert the preferred shares into common shares under certain circumstances (see the prospectus for details). Dividends paid by preferreds issued by REITs are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. In regard to the 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 (WELL)
IPO - 2/29/2012 - 11.50 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: HECAP Changed: 3/09/2012
Previous Name: Health Care REIT, Inc. Changed: 9/30/2015
Market Value $288.0 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: 4500 Dorr Street, Toledo, OH 43615 |
| Main Phone Number |
419-247-2800 |
| Fax Number |
419-247-2826 |
| Investor Contact (CFO)
John Goodey
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419-247-2800
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| Toll Free Phone Number |
877-670-0070 |
| CEO - Thomas J. DeRosa |
CFO - John Goodey |
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