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Saul Centers, 9.00% Dep Shares Series B Cumulative Redeemable Preferred Stock
Ticker Symbol: BFS-B* CUSIP: 804395408 Exchange: NYSE
* NOTE: This security is no longer trading as of 4/15/2013
Security has been Called for: Friday, March 15, 2013
Feb. 12, 2013 -- Saul Centers, Inc. (BFS) today called for redemption of all outstanding shares of its 9% Series B Cumulative Redeemable Preferred Stock represented by depositary shares, each representing 1/100th of a share of Series B Preferred Stock (CUSIP: 804395408; NYSE: BFSPrB). The Depositary Shares will be redeemed on March 15, 2013 at $25.00 per share, plus all accumulated and unpaid distributions through the redemption date, for an aggregate redemption price of $25.4265 per share. 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 representing interests in Series B Preferred Stock, regardless of whether they were surrendered for payment.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Saul Centers Inc., 9.00% Depositary Shares each representing 1/100 of a share of 9% Series B Cumulative Redeemable Preferred Stock, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 3/15/2013 at $25 per depositary share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 9.00% ($2.25) 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 15% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. In the event that the shares are no longer listed on the NYSE, the AMEX or the Nasdaq exchanges and are also not subject to SEC reporting requirements, the dividend rate will be increased to 10% per annum and the security may be redeemed anytime at the company's option. 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 - 3/21/2008 - 3.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
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: 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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