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Alabama Power Co., 5.625% Series Non-Cumulative Preference Stock
Ticker Symbol: ALBPP* CUSIP: 010392512 Exchange: OTOTC
* NOTE: This security is no longer trading as of 5/15/2015
Security has been Called for: Friday, May 15, 2015
May 12, 2015 -- OTC Updates announced Issue called for redemption effective 5/15/2015 at $25/sh plus accrued dividends ($0.1719/sh) _______________ April 16, 2015 -- Alabama Power Company today announced that it issued a notice of redemption for all of the following series of preferred and preference stock:
5.20% Class A Preferred Stock, Cumulative, Par Value $1 Per Share (Stated Capital $25 Per Share) CUSIP No. 010392595
5.30% Class A Preferred Stock, Cumulative, Par Value $1 Per Share (Stated Capital $25 Per Share) CUSIP No. 010392561
5.625% Preference Stock, Non-Cumulative, Par Value $1 Per Share (Stated Capital $25 Per Share) CUSIP No. 010392512
The redemption date for each of the above series of preferred and preference stock will be May 15, 2015. The redemption price per share for each series of preferred and preference stock to be redeemed shall be equal to $25 per share plus accrued and unpaid dividends to the date of redemption. No dividends on the preferred and preference stock being redeemed will accrue on or after the redemption date, nor will any interest accrue on amounts held to pay the redemption price.
Questions relating to, and request for copies of the notice of, this redemption should be directed to Computershare Trust Company, N.A. at 800-546-5141. ____________ The 5.625% Series Preference Stock will not be listed on any securities exchange or on any automated dealer quotation system.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Alabama Power Co., 5.625% Series Non-Cumulative Preference Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 1/1/2012 at $25 per share plus declared and unpaid dividends, and with no stated maturity. Non-cumulative distributions of 5.625% ($1.40625) per annum are paid quarterly on 1/1, 4/1, 7/1 & 10/1 to holders of record on the date fixed by the board (NOTE: the ex-dividend date is at least 2 business days prior to the record date). Dividends paid by this preferred 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. In regards to payment of dividends and upon liquidation, the preference stock ranks junior to the company's senior debt and preferred stock and senior to the common shares of the company. See the IPO prospectus for further information on the preference stock by clicking on the ‘Link to IPO Prospectus’ provided below. Alabama Power Co. is a wholly-owned subsidiary of the Southern Co. (NYSE:SO).
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Go to Parent Company's Record (SO)
IPO - 12/6/2006 - 6.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $150.0 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: 30 Ivan Allen Jr. Boulevard, N.W., Atlanta, GA 30308 |
| Main Phone Number |
404-506-5000 |
| Fax Number |
404-506-0455 |
| Investor Relations
Glen Kundert
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404-506-5135
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| Toll Free Phone Number |
866-762-6411 |
| CEO - Thomas A. Fanning |
CFO - Richard S. Teel |
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