PacifiCorp, 7.00% Serial Preferred Stock (PPWLM)
OTOTC · · CUSIP 695114884
This security has been delisted at the request of the issuer and is no longer trading, but to our knowledge is still paying distributions to holders. It may start trading on the OTC market, but to our knowledge it has not done so to date.
The reference information below — security type, terms, ratings and company profile — is retained for research. Current pricing is not available.
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Security Details

Coupon Rate
7.00%
Liquidation Preference
$100.00
Call Price
—
Call / Redemption Date
—
Maturity Date
None
Distribution Period
Q
Rate Type
Fixed
Annual Distribution
7.00
Distribution Dates
2/15, 5/15, 8/15 & 11/15
Credit Ratings
Moody's Baa3 · S&P BBB- (3/7/2024)
Tax-Advantaged Dividends
Yes

Security Profile

Security Type
Traditional Preferred Stock »
CUSIP
695114884
Market Cap
Micro Cap
IPO
11/19/1975
Previous Name
Utah Power & Light Co. 7.00 Pfd
Business: PacifiCorp, 7.00% Serial Preferred Stock, Cumulative, stated value $100 per share, and not subject to mandatory redemption. Distributions of 7.00% ($7.00) per annum are paid quarterly on 2/15, 5/15, 8/15 & 11/15. 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. All shares of the outstanding common stock of PacifiCorp are indirectly owned by MidAmerican Energy Holdings Company. All of the shares of common equity of MidAmerican Energy Holdings Company are privately held by a limited group of investors.
Notes: January 31, 2025 -- PPW Holdings LLC (the “Majority Shareholder”) executed a written consent approving an amendment to the Fourth Restated Articles of Incorporation of PacifiCorp to effectuate a reverse stock split of the shares of 6.00% Serial Preferred Stock and 7.00% Serial Preferred Stock. The Reverse Split Amendment provides for a reverse stock split of the Serial Preferred Stock (“Reverse Stock Split”) at a ratio of one-for-ten thousand, provided that any fractional shares resulting from the reverse stock split will not be issued or outstanding, and instead will be paid out in cash (without interest or deduction) in the amount, as applicable in each case, equal to (i) the number of shares of 6.00% Serial Preferred Stock exchanged and combined into such fractional share multiplied by $155.00, plus any accrued but unpaid dividends from the most recent dividend payment date with respect to the 6.00% Serial Preferred Stock up to, but not including, the effective date of the Reverse Stock Split, or (ii) the number of shares of 7.00% Serial Preferred Stock exchanged and combined into such fractional share multiplied by $180.00, plus any accrued but unpaid dividends from the most recent dividend payment date with respect to the 7.00% Serial Preferred Stock up to, but not including, the effective date of the Reverse Stock Split.

Company Contact

CHR
Charles Miller Smith
CEO
Ian Russell
Headquarters
825 NE Multnomah Street, Suite 2000, Portland, OR 97232
Phone
503-813-5000 · Toll-Free 877-877-4027
Fax
503-813-7247
Investor Relations
Bob Hess · 503-813-7234 · bob.hess@pacificorp.com
General Email
investor.relations@scottishpower.com
SEC EDGAR Filings
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