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DuPont Fabros Technology, 7.875% Series A Cumul Redeem Perp Preferred Stock
Ticker Symbol: DFT-A* CUSIP: 26613Q205 Exchange: NYSE
* NOTE: This security is no longer trading as of 6/09/2016
Security has been Called for: Thursday, June 9, 2016
May 10, 2016 -- DuPont Fabros Technology, Inc. today announced that it intends to redeem on June 9, 2016 all of the shares of its 7.875% Series A Cumulative Redeemable Perpetual Preferred Stock remaining issued and outstanding as of the Redemption Date and 2,650,000, representing approximately 39.8% of its 6,650,000 shares of its 7.625% Series B Cumulative Redeemable Perpetual Preferred Stock. The shares of Series A Preferred Stock and Series B Preferred Stock will be redeemed at a redemption price of $25.00 per share, plus an amount equal to all accrued and unpaid dividends on each share of Series A Preferred Stock and on each share of Series B Preferred Stock, respectively, to be redeemed from April 15, 2016 to, but not including, the Redemption Date. Dividends on the shares of Series A Preferred Stock and on the shares of Series B Preferred Stock that are to be redeemed will cease to accrue on the Redemption Date. Upon redemption, the shares of Series A Preferred Stock and the redeemed shares of Series B Preferred Stock will no longer be outstanding, and all rights of the holders of such shares will terminate, except the right of the holders to receive the cash payable upon such redemption, without interest. Upon redemption, the Series A Preferred Stock will be delisted from trading on the New York Stock Exchange. ____________ April 27, 2016 -- In the news release, “DuPont Fabros Technology, Inc. Announces Partial Redemption of 7.875% Series A Cumulative Perpetual Preferred Stock,” the company has advised that the shares to be redeemed will be selected “by lot” rather than “pro rata,” as originally stated in the third paragraph of the release. The complete, corrected release is as follows:
DuPont Fabros Technology, Inc. today announced that it intends to redeem 3,400,000, representing approximately 46%, of its 7,400,000 shares of its 7.875% Series A Cumulative Redeemable Perpetual Preferred Stock on May 27, 2016. The shares of Series A Preferred Stock will be redeemed at a redemption price of $25.00 per share, plus an amount equal to all accrued and unpaid dividends on each share of Series A Preferred Stock to be redeemed from April 15, 2016 to, but not including, the Redemption Date. Dividends on the shares of Series A Preferred Stock that are to be redeemed will cease to accrue on the Redemption Date. Upon redemption, the redeemed shares of Series A Preferred Stock will no longer be outstanding, and all rights of the holders of such shares will terminate, except the right of the holders to receive the cash payable upon such redemption, without interest. All shares of Series A Preferred Stock are held in book-entry form through the Depository Trust Company (“DTC”) and shares to be redeemed will be selected by lot in accordance with the procedures of DTC. Payment to DTC for the shares of Series A Preferred Stock will be made by Computershare Inc. as redemption agent.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: DuPont Fabros Technology, Inc. 7.875% Cumulative Redeemable Perpetual Preferred Stock, Series A, liquidation preference $25 per share, redeemable at the issuer's option on or after 10/15/2015 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 7.875% ($1.96875) per annum are paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date fixed by the board, not more than 30 days prior to the payment date (NOTE: the ex-dividend date is at least 2 business days prior to the record date). 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 11.875% per annum and the security may be redeemed anytime at the company's option. 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 regard to the 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 (DLR)
IPO - 10/8/2010 - 7.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: DFAB Changed: 10/19/2010
Market Value $175.0 Million
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: 1212 New York Avenue NW, Suite 900, Washington, DC 20005 |
Main Phone Number |
202-728-0044 |
Fax Number |
202-728-0220 |
Investor Relations
Steve Rubis
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202-478-2330
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Toll Free Phone Number |
Unknown |
CEO - Christopher Eldredge |
CFO - Jeffrey H. Foster |
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