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Lincoln National Capital VI, 6.75% Trust Preferred Securities, Series F
Ticker Symbol: LNC-F* CUSIP: 53404M201 Exchange: NYSE
* NOTE: This security is no longer trading as of 12/15/2010
Security has been Called for: Wednesday, December 15, 2010
Nov. 15, 2010 -- Lincoln National Corporation today announced that it has called for the redemption of all $150 million in outstanding 6.75% Series F Trust Preferred Securities ("Series F TRuPS") issued by Lincoln National Capital VI (CUSIP 53404M 20 1) and guaranteed by Lincoln. The Series F TRuPS will be redeemed at a price of $25 per security, plus any accrued and unpaid distributions for the period up to but excluding the redemption date. The redemption date is December 15, 2010. The Series F TRuPS were issued on September 11, 2003 and were redeemable at Lincoln's option on or after September 11, 2008. ____________ Nov. 11, 2010 -- Lincoln National Corporation today announced that its Board of Directors approved raising the quarterly dividend on common shares to $0.05 per share. In addition, the company announced its intention to repurchase up to $125 million of its common stock over a 15-month period and to redeem all $150 million in outstanding 6.75% Series F Trust Preferred Securities issued by Lincoln National Capital VI (CUSIP 53404M 20 1) and guaranteed by Lincoln.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Lincoln National Capital VI, 6.75% Trust Preferred Securities, Series F, liquidation amount $25 per share, guaranteed by Lincoln National Corp. (NYSE: LNC-F) (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 9/11/2008 at $25 per share plus accrued and unpaid dividends, maturing 9/11/2052, distributions of 6.75% ($1.6875) per annum are paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record one business day prior to the payment date while the securities remain in book-entry form. 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 6.75% Junior Subordinated Deferrable Interest Debentures, Series F, due 9/11/2052 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 (LNC)
IPO - 9/5/2003 - 6.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $150.0 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: 150 N. Radnor Chester Road, Radnor, PA 19087 |
| Main Phone Number |
484-583-1400 |
| Fax Number |
484-583-3962 |
| Investor Relations
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800-237-2920
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| Toll Free Phone Number |
800-237-2920 |
| CEO - Dennis R. Glass |
CFO - Frederick J. Crawford |
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