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DTE Energy Co., 6.50% 2011 Series I Junior Subordinate Debentures due 12/1/2061
Ticker Symbol: DTZ* CUSIP: 233331602 Exchange: NYSE
* NOTE: This security is no longer trading as of 12/28/2016
Security has been Called for: Wednesday, December 28, 2016
Nov. 28, 2016 -- DTE Energy announced today the full redemption of all outstanding 2011 Series I 6.50 percent Junior Subordinated Debentures. The 2011 Series I 6.50 percent Junior Subordinated Debentures will be redeemed on Dec. 28, 2016. The redemption price is 100 percent of the unpaid principal amount of the 2011 Series I 6.50 percent Junior Subordinated Debentures, together with accrued and unpaid interest up to, but excluding, Dec. 28, 2016. The 2011 Series I 6.50 percent Junior Subordinated Debentures will be called for redemption in minimum denominations of $25 and in multiples of $25. - See more at: http://newsroom.dteenergy.com/2016-11-28-DTE-Energy-Company-Announces-Redemption-of-2011-Series-I-6-50-Junior-Subordinated-Debentures#sthash.Y2IcRNDT.dpuf
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QUANTUMONLINE.COM SECURITY DESCRIPTION: DTE Energy Co., 6.50% 2011 Series I Junior Subordinate Debentures due 12/1/2061, issued in $25 denominations, redeemable at the issuer's option on or after 12/1/2016 at $25 per share plus accrued and unpaid interest, and maturing 12/1/2061. Interest distributions of 6.50% ($1.625) per annum are paid quarterly on 3/1, 6/1, 9/1 & 12/1 to holders of record on the record date which is will be 15 calendar days prior to the payment date (NOTE: the ex-dividend date is at least 2 business days prior to the record date). The company has the right, at any time, to defer dividend payments for up to 20 consecutive quarters (but not beyond the maturity date). Distributions paid by these debt securities are interest and as such 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. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. The junior subordinated debentures are unsecured and rank subordinate and junior in right of payment to all of the company's current and future senior indebtedness, equal to any other junior subordinated debentures, and senior to the common shares of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (DTE)
IPO - 11/29/2011 - 11.20 Million Notes @ $25.00/note.
Link to IPO Prospectus
Market Value $280.0 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: One Energy Plaza, Detroit, Michigan 48226 |
| Main Phone Number |
313-235-4000 |
| Fax Number |
Not Available |
| Investor Relations
Barbara Tuckfield
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313-235-1018
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| CEO - Gerard M. Anderson |
CFO - Peter B. Oleksiak |
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