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Interpublic Group of Cos., 5 1/4% Series B Cumul Conv Perp Preferred Stock
Ticker Symbol: INPGP* CUSIP: 460690803 Exchange: OTOTC
* NOTE: This security is no longer trading as of 10/17/2013
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Interpublic Group of Cos., 5 1/4% Series B Cumulative Convertible Perpetual Preferred Stock, liquidation preference $1000 per share, and with no stated maturity. Distributions of 5.25% ($52.50) per annum are paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date fixed by the board, not more than 60 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 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. The preferred shares are convertible any time at the holder's option into 73.1904 common shares of Interpublic Group of Cos. (NYSE: IPG), an initial conversion price of $13.66 per common share. On or after 10/15/2010, if the price of the common stock exceeds 130% of the conversion price for 20 of any 30 consecutive trading days, the company may, at their option, force the preferred shares to be converted into common shares at the then prevailing conversion price. The dividend rate of the Series B Preferred Stock will be increased by 1.0% if they do not pay dividends on the Series B Preferred Stock for six quarterly periods (whether consecutive or not). The dividend rate will revert back to the original rate once all unpaid dividends are paid in full. The dividend rate of the Series B Preferred Stock will also be increased by 1.0% if they do not file their periodic reports with the SEC within 15 days after the required filing date during the first two-year period following the closing of the offering. In regard to the 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 convertible preferred stock and the conversion provisions by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (IPG)
Notes: Conversion. The Company is acting pursuant to Section 5 of the Certificate of Designations governing its Series B Preferred Stock. Holders of the Series B Preferred Stock will receive 77.8966 shares of common stock per share of Series B Preferred Stock. The holders will also receive cash in lieu of fractional shares. 10/17/2013.
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IPO - 10/24/2005 - 525,000 Shares @ $1000.00/share.
Link to IPO Prospectus
Market Value $517.0 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: 1114 Avenue of the Americas, New York, NY 10036 |
| Main Phone Number |
212-704-1200 |
| Fax Number |
212-704-1201 |
| Investor Contact
Jerry Leshne
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212-704-1439
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Toll Free Phone Number |
Unknown |
| CEO - Michael I. Roth |
CFO - Frank Mergenthaler |
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