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Federal Realty Investment Trust, 8 1/2% Cumul Redeem Preferred Shares B
Ticker Symbol: FRT-B* CUSIP: 313747503 Exchange: NYSE
* NOTE: This security is no longer trading as of 11/27/2006
Security has been Called for: Monday, November 27, 2006
Oct. 20, 2006 -- Federal Realty Investment Trust announced today that it will redeem all 5,400,000 outstanding shares of its 8.50% Series B Cumulative Redeemable Preferred Shares, no par value (FRTPrB - CUSIP No. 313747503), effective November 27, 2006. The Series B Preferred Shares will be redeemed at their redemption price of $25.00 per share, plus accrued and unpaid dividends through the redemption date of $0.159375 per share, for an aggregate redemption price of $25.159375 per Series B Preferred Shares. Dividends on the Series B Preferred Shares will cease to accrue on November 27, 2006. On November 27, 2006, all of the currently issued and outstanding Series B Preferred Shares will cease to be outstanding, and holders of such Series B Preferred Shares no longer will have any rights with respect to such Series B Preferred Shares, other than the right to receive the redemption price of $25.159375 per share, without interest, upon surrender of certificates representing the Series B Preferred Shares. Payment of the redemption price will be made only upon presentation and surrender of certificates representing the Series B Preferred Shares to American Stock Transfer & Trust Company, as redemption agent, during its usual business hours at the addresses specified in the Notice of Redemption. The Notice of Redemption will be mailed to holders of record of the Series B Preferred Shares on or about October 24, 2006. For additional information on redeeming Federal Realty's Series B Preferred Shares, shareholders should contact American Stock Transfer & Trust Company, the transfer agent, registrar and dividend disbursing agent for this issue, at (877) 777-0800.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Federal Realty Investment Trust, 8 1/2% Series B Cumulative Redeemable Preferred Shares, liquidation preference $25 per share, redeemable at the issuer's option on or after 11/27/2006 at $25 per share plus accrued and unpaid dividends, with no stated maturity, and with distributions of 8 1/2% per annum paid quarterly on 1/31, 4/30, 7/31 & 10/31 to holders of record on the 15th day of the month in which the payment is made. 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 (FRT)
IPO - 11/20/2001 - 5.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $125.0 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: 1626 East Jefferson Street, Rockville, MD 20852 |
| Main Phone Number |
301-998-8100 |
| Fax Number |
301-658-8980 |
| Investor Relations
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888-378-8727
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| Toll Free Phone Number |
800-658-8980 |
| CEO - Steven J. Guttman |
CFO - Cecily A. Ward |
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