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Kimco Realty Corp., 5.50% Dep Shares Class J Cumul Redeem Preferred Stock
Ticker Symbol: KIM-J* CUSIP: 49446R778 Exchange: NYSE
* NOTE: This security is no longer trading as of 12/31/2019
Security has been Called for: Tuesday, December 31, 2019
11/29/2019 -- Kimco Realty Corp., in an effort to further reduce leverage, today announced that it will redeem all 9,000 shares of its issued and outstanding 5.500% Class J Cumulative Redeemable Preferred Stock and all 9,000,000 depositary shares representing the Class J Preferred Stock (NYSE: KIMprJ – CUSIP No. 49446R778), representing an aggregate liquidation value of $225 million, on December 31, 2019. In connection with the redemption of the preferred stock, Kimco will recognize a non-cash charge of approximately $7.2 million or $0.02 cents per common share in the fourth quarter of 2019. This charge will reduce Net Income and NAREIT Funds From Operations per diluted share by the same amount but have no impact on Funds From Operations as adjusted per diluted share. The Class J Preferred Stock will be redeemed at the redemption price of $25,000.00 per share, plus $290.278 in accrued and unpaid dividends on each share, and the Class J Depositary Shares will be redeemed at the redemption price of $25.00 per depositary share, plus $0.29028 in accrued and unpaid dividends on each share. Dividends will cease to accrue on the Class J Shares as of the Redemption Date. A notice of redemption and related materials have been mailed to holders of record of Class J Depositary Shares on November 29, 2019. Class J Depositary Shares held through The Depositary Trust Company, the registered holder of all of the issued outstanding Class J Depositary Shares, will be redeemed in accordance with the applicable procedures of The Depositary Trust Company. Questions relating to the applicable notices of redemption and related materials should be directed to Equiniti Trust Company, the company’s transfer agent and the paying agent for the redemption of the Class J Shares at 800-468-9716. The address of the Paying Agent is Equiniti Trust Company, Attn: Corporate Actions Department, P.O. Box 64858, St. Paul, MN 55164-0858.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Kimco Realty Corp., 5.50% Depositary Shares each representing a 1/1000 interest in a share of the 5.50% Class J Cumulative Redeemable Preferred Stock, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 7/25/2017 at $25 per depositary share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 5.50% per annum ($1.375 per annum or $0.34375 per quarter) will be paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date that will be the first calendar day of the month in which the payment is due or on the record date fixed by the board, not more than 30 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). Dividends paid by preferreds issued by REITs 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. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, 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 (KIM)
IPO - 7/17/2012 - 9.00 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: KMCPZ Changed: 7/26/2012
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: 3333 New Hyde Park Road, New Hyde Park, NY 11042 |
| Main Phone Number |
516-869-9000 |
| Fax Number |
516-869-9001 |
| Investor Relations
David F. Bujnicki
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866-831-4297
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| Toll Free Phone Number |
866-831-4297 |
| CEO - Conor C. Flynn |
CFO - Glenn G. Cohen |
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