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Georgia Power Co., 6.50% Series 2007A Preference Stock, Non-Cumulative
Ticker Symbol: GAPWP* CUSIP: 373334119 Exchange: OTOTC
* NOTE: This security is no longer trading as of 10/24/2017
Security has been Called for: Tuesday, October 24, 2017
Sept. 21, 2017 -- Georgia Power today announced that it issued a notice of redemption for the following series of preferred and preference stock:
6⅛% Series Class A Preferred Stock, Non-Cumulative, Par Value $25 Per Share CUSIP No. 373334473 (NYSE: GPE PR A)
6.50% Series 2007A Preference Stock, Non-Cumulative, Par Value $100 Per Share CUSIP No. 373334119
The redemption date for each of the above series of preferred and preference stock will be October 24, 2017. The redemption price per share for each series of preferred and preference stock to be redeemed shall be as follows:
6⅛% Series Class A Preferred Stock: $25 per share plus accrued and unpaid dividends of $0.09783 per share
6.50% Series 2007A Preference Stock: $100 per share plus accrued and unpaid dividends of $0.415278 per share
Regular dividends on the preferred and preference stock being redeemed are payable Oct. 1, 2017 to each holder of record on Sept. 15, 2017. No dividends on the preferred and preference stock being redeemed will accrue on or after the redemption date, nor will any interest accrue on amounts held to pay the redemption price. ____________ FThe Series 2007A Preference Stock will not be listed on any securities exchange (such as the NYSE or the AMEX) or on any automated dealer quotation system (such as the Nasdaq).
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Georgia Power Co., 6.50% Series 2007A Preference Stock, Non-Cumulative, liquidation preference $100 per share, redeemable at the issuer's option on or after 10/1/2017 at $100 per share plus declared and unpaid dividends, and with no stated maturity. Non-cumulative distributions of 6.50% ($6.50) per annum are paid quarterly on 1/1, 4/1, 7/1 & 10/1 to holders of record on the record date as determined by the board of directors. Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders. In regards to payment of dividends and upon liquidation, the preference shares rank equally with other preference shares, senior to the common shares, and junior to the senior debt and preferred shares of the company. See the IPO prospectus for further information on the preference stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (SO)
IPO - 10/4/2007 - 2.25 Million Shares @ $100.00/share.
Link to IPO Prospectus
Market Value $225.0 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: 30 Ivan Allen Jr. Boulevard, N.W., Atlanta, GA 30308 |
| Main Phone Number |
404-506-5000 |
| Fax Number |
404-506-0455 |
| Investor Relations
Glen Kundert
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404-506-5135
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| Toll Free Phone Number |
866-762-6411 |
| CEO - Thomas A. Fanning |
CFO - Richard S. Teel |
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