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Duke Realty Corp., 7.25% Dep Shares Series N Cumul Redeem Preferred Shares
Ticker Symbol: DRE-N* CUSIP: 264411695 Exchange: NYSE
* NOTE: This security is no longer trading as of 7/18/2011
Security has been Called for: Monday, July 18, 2011
06/17/11 - Duke Realty Corporation, a leading industrial and office property REIT, announced today that it has called for redemption all of its 434,520 outstanding 7.25% Series N Cumulative Redeemable Preferred Shares, par value $.01 per share, and all of the 4,345,200 Depositary Shares representing such Series N Preferred Shares (NYSE:DREPRN) (CUSIP No.: 264411695). The redemption date is July 18, 2011. The cash redemption price for the Series N Preferred Shares is $250.00 per share, which is equivalent to a cash redemption price of $25.00 per Series N Depositary Share. Holders of the Series N Depositary Shares will receive $0.090625 in accrued dividends, for an aggregate redemption price of $25.090625 per Series N Depositary Share. Dividends on the Series N Preferred Shares represented by the Series N 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.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Duke Realty Corp., Depositary Shares, each representing 1/10th of a 7.25% Series N, Cumulative Redeemable Preferred Share, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 6/30/2011 at $25 per depositary share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 7.25% ($1.8125) per annum are paid quarterly on 3/31, 6/30, 9/30 & 12/31 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 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 - 6/16/2006 - 4.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: DREXN Changed: 7/18/2006
Market Value $100.0 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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