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Anthracite Capital Inc., 8.25% Series D Cumul Redeem Preferred Stock
Ticker Symbol: ACPOQ* CUSIP: 037023405 Exchange: OTOTC
* NOTE: This security is no longer trading as of 3/15/2010
Security's Distribution is Suspended!
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Anthracite Capital Inc., 8.25% Series D, Cumulative Redeemable Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 2/12/2012 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Distributions of 8.25% ($2.0625) per annum are paid quarterly on 1/31, 4/30, 7/31 & 10/31 to holders of record on the first day of the month in which the payment is due or on the date fixed by the board, not more than 60 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). 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 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. The company is organized to qualify as a real estate investment trust (REIT) for federal income tax purposes. 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 (ACPIQ)
Notes: On March 15, 2010, Anthracite Capital, Inc. filed a voluntary petition for relief under chapter 7 of title 11 of the United States Code in the United States Bankruptcy Court for the Southern District of New York (Case No. 10-11319). The court will appoint a chapter 7 trustee who will be responsible for the liquidation of the business through the bankruptcy case. ____________ From the news release dated 3/18/2009 -- The Board of Directors also did not declare a dividend on the common stock and the Company’s preferred stock for the first quarter of 2009. To the extent the Company is required to make distributions to maintain its qualification as a REIT in 2009, the Company anticipates it will rely upon temporary guidance that was recently issued by the Internal Revenue Service (“IRS”), which allows certain publicly traded REITs to satisfy their net taxable income distribution requirements during 2009 by distributing up to 90% in stock, with the remainder distributed in cash. The terms of the Company’s preferred stock prohibit the Company from declaring or paying cash dividends on the common stock unless full cumulative dividends have been declared and paid on the preferred stock.
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IPO - 2/9/2007 - 3.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: AHR-D Changed: 12/01/2009
Market Value $75.0 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: 40 East 52nd Street, New York, NY 10022 |
| Main Phone Number |
212-810-3333 |
| Fax Number |
Not Available |
| Investor Contact
Brian Beades
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212-810-5596
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| CEO - Christopher A. Milner |
CFO - James J. Lillis |
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