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Duke Realty Corp., 6.60% Dep Shares Series L Cumul Preferred Shares
Ticker Symbol: DRE-L* CUSIP: 264411745 Exchange: NYSE
* NOTE: This security is no longer trading as of 12/15/2014
Security has been Called for: Monday, December 15, 2014
Nov 14, 2014 - Duke Realty Corporation announced today that it has called for redemption all of its 733,597 outstanding 6.60% Series L Cumulative Redeemable Preferred Shares, par value $.01 per share, and all of the 7,335,968 Depositary Shares representing such Series L Preferred Shares (NYSE: DREPRL) (CUSIP No.: 264411745). The redemption date is December 15, 2014. The cash redemption price for the Series L Preferred Shares is $250.00 per share, which is equivalent to a cash redemption price of $25.00 per Series L Depositary Share. Holders of the Series L Depositary Shares will receive $0.068750 per share in accrued dividends, for an aggregate redemption price of $25.068750 per Series L Depositary Share. Dividends on the Series L Preferred Shares represented by the Series L Depositary Shares will cease to accrue after the redemption date, and holders will have no rights other than the right to receive the redemption price, without interest, upon surrender of their shares. The Notice of Redemption and related materials will be mailed to holders of Duke Realty's Series L Depositary Shares representing the Series L Preferred Shares on November 14, 2014. As specified in the Notice of Redemption, payment of the redemption price will be made only upon presentation and surrender of the Series L Depositary Shares representing the Series L Preferred Shares to Duke Realty's transfer agent, American Stock Transfer and Trust Company, LLC, the redemption agent, by registered or certified mail, properly insured, or hand delivery during normal business hours at 6201 15th Avenue, Brooklyn, New York 11219. Questions relating to the Notice of Redemption and related materials should be directed to American Stock Transfer and Trust Company, telephone number 800/937-5449.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Duke Realty Corp., Depositary Shares each representing 1/10th of a 6.6% Cumulative Redeemable Preferred Shares, Series L, liquidation preference $25 per share, redeemable at the issuer's option on or after 11/30/2009 at $25 per share plus accrued and unpaid dividends, with no stated maturity, and with distributions of 6.60% ($1.65) per annum paid quarterly on 2/28, 5/31, 8/31 & 11/30 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 (DRE*)
IPO - 11/4/2004 - 8.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: DRELP Changed: 12/23/2004
Market Value $200.0 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: 600 East 96th Street, Suite 100, Indianapolis, IN 46240 |
| Main Phone Number |
317-808-6000 |
| Fax Number |
317-808-6770 |
| Investor Relations
Shona L. Bedwell
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317-808-6169
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| Toll Free Phone Number |
800-875-3366 |
| CEO - Dennis D. Oklak |
CFO - Matthew A. Cohoat |
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