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Georgia Power Capital Trust VII, 5 7/8% Trust Preferred Securities
Ticker Symbol: GPE-X* CUSIP: 37333T205 Exchange: NYSE
* NOTE: This security is no longer trading as of 9/23/2011
Security has been Called for: Friday, September 23, 2011
GPE-X has been called per a trader update from the NYSE on 8/24/2011.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Georgia Power Capital Trust VII, 5 7/8% Trust Preferred Securities, liquidation amount $25 per share, guaranteed by George Power Co., a subsidiary of Southern Co. (NYSE: SO) (See our definition of Guaranteed in our Glossary of Income Investing Terms for the technicalities of the guarantee), redeemable at the issuer's option on or after 1/23/2009 at $25 per share plus accrued and unpaid dividends, maturing 1/15/2044, distributions of 5 7/8% ($1.46875) per annum are paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record one business day prior to the payment date while the securities remain in book-entry form. Dividends paid by trust preferred securities are derived from interest paid to the underlying debt securities and therefore are NOT eligible for the 15% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. The company has the right, at any time, to defer dividend payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 5.875% Junior Subordinated Deferrable Interest Notes due 1/15/2044 which were purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (SO)
IPO - 1/16/2004 - 8.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
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: 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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