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Saul Centers, 8.00% Dep Shares Series A Cumulative Redeemable Preferred Stock
Ticker Symbol: BFS-A* CUSIP: 804395200 Exchange: NYSE
* NOTE: This security is no longer trading as of 12/14/2014
Security has been Called for: Sunday, December 14, 2014
Nov. 12, 2014 -- Saul Centers, Inc. today announced that it has closed an underwritten public offering of 1,600,000 depositary shares, each representing a 1/100th fractional interest in a share of its 6.875% Series C Cumulative Redeemable Preferred Stock, at a price of $25.17 per depositary share. The depositary shares represent a new issuance of additional depositary shares that were first issued on February 12, 2013. The Company estimates that the net proceeds from the offering will be approximately $39.2 million, after deducting underwriting discounts, commissions and estimated offering expenses. The Company intends to use the net proceeds, together with cash on hand, to redeem all outstanding shares of its 8% Series A Cumulative Redeemable Preferred Stock on December 12, 2014. ____________ Jan. 31, 2013 -- Saul Centers, Inc. (BFS) today called for redemption of 60% of the outstanding shares of its 8% Series A Cumulative Redeemable Preferred Stock represented by 2,400,000 depositary shares, each representing 1/100th of a Series A Preferred Share (CUSIP: 804395200; NYSE: BFSPrA). The Depositary Shares will be redeemed on March 2, 2013 at $25.00 per share, plus all accumulated and unpaid distributions through the redemption date, for an aggregate redemption price of $25.3389 per share. The Depositary Shares will be redeemed, as to registered holders, on a pro rata basis, as nearly as practicable. The redemptions will be made in accordance with The Depositary Trust Company's procedures. The Depositary Shares shall be surrendered for payment of the redemption price to Continental Stock Transfer & Trust Company, the redemption and paying agent. After the redemption date, dividends will cease to accrue on the Depositary Shares that were redeemed, regardless of whether they were surrendered for payment.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Saul Centers, 8.00% Depositary Shares each representing 1/100 of a share of 8% Series A Cumulative Redeemable Preferred Stock, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 11/05/2008 at $25 per depositary share plus accrued and unpaid dividends, and with no stated maturity. Distributions of 8.00% ($2.00) per annum paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the 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). 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. 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 (BFS)
IPO - 10/31/2003 - 3.50 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $87.5 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: 7501 Wisconsin Avenue, Bethesda, MD 20814 |
| Main Phone Number |
301-986-6200 |
| Fax Number |
301-986-6079 |
| Investor Relations
Dee Dee Russo
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301-986-6016
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Toll Free Phone Number |
Unknown |
| CEO - B. Francis Saul II |
CFO - Scott V. Schneider |
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