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Alabama Power Co., 5.00% Class A Cumulative Preferred Stock
Ticker Symbol: ALP-Q* CUSIP: 010392462 Exchange: NYSE
* NOTE: This security is no longer trading as of 10/01/2022
Security has been Called for: Saturday, October 1, 2022
Sept. 7, 2022 -- Alabama Power Company today announced that it issued a notice of redemption for 5.00% Class A Preferred Stock, Cumulative, Par Value $1 Per Share (Stated Capital $25 Per Share) CUSIP No. 010392462 (NYSE: ALP PR Q) (the "5.00% Preferred Stock").
The redemption date for the 5.00% Preferred Stock will be October 14, 2022. The redemption price per share for the 5.00% Preferred Stock to be redeemed shall be equal to $25.00 per share plus accrued and unpaid dividends of $0.045 per share.
Regular dividends on the 5.00% Preferred Stock being redeemed are payable October 1, 2022, to each holder of record on September 16, 2022.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Alabama Power Co., 5.00% Class A Cumulative Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 10/1/2022 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 5.00% per annum ($1.25 per annum or $0.3125 per quarter) will be paid quarterly on 1/1, 4/1, 7/1 & 10/1 to holders of record on the record date as they appear on the books of the Company on the record dates fixed by the Board of Directors (NOTE: the ex-dividend date is one business day prior to the record date). Before 10/1/2022, the Company shall have the right to redeem the new Class A Preferred Stock, in whole but not in part, following the occurrence of a Rating Agency Event at a redemption price equal to $25.50 per share plus accrued and unpaid dividends (see prospectus for further information). 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 (see page S-9 of the prospectus for further information). This security was rated as A3 by Moody’s and BBB by S&P at the date of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, 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 (SO)
IPO - 9/5/2017 - 10.00 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: ABBLP Changed: 9/12/2017
Market Value $250.0 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
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404-506-5000
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| Toll Free Phone Number |
866-762-6411 |
| CEO - Thomas A. Fanning |
CFO - Arthur P. Beattie |
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