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Post Properties Inc., 7 5/8% Series B Cumul Redeem Preferred Shares
Ticker Symbol: PPS-B* CUSIP: 737464305 Exchange: NYSE
* NOTE: This security is no longer trading as of 3/14/2011
Security has been Called for: Monday, March 14, 2011
February 8, 2011 -- Post Properties, Inc. (cusip 737464305) announced today that it is giving notice that it will redeem each of its 1,982,829 outstanding 7-5/8% Series B Cumulative Redeemable Preferred Shares on March 14, 2011 at a price of $25.00 per share, plus $0.386543 in accrued and unpaid dividends up to and including the Redemption Date, for a total redemption price of $25.386543 per share. Dividends on the Series B Preferred Shares will cease to accumulate on the Redemption Date. Holders of record must surrender Series B Preferred Shares to Computershare to receive the Redemption Price in accordance with written instructions specified in the Notice of Redemption to be dated February 9, 2011. The Notice of Redemption will be mailed to holders of record of the Series B Preferred Shares on or about February 9, 2011.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Post Properties, Inc., 7 5/8% Series B Cumulative Redeemable Preferred Shares, liquidation preference $25 per share, redeemable at the issuer's option on or after 10/28/2007 at $25 per share plus accrued and unpaid dividends, with no stated maturity, and with distributions of 7 5/8% per annum paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the 15th day of the month in which the payment is made (NOTE: the ex-dividend date is at least 2 business days prior to the record date). Dividends paid by preferreds issued by REITs are NOT eligible for the 15% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. In regards to 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 preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (MAA)
IPO - 10/27/1997 - 2.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $50.1 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: 4401 Northside Parkway, Suite 800, Atlanta, GA 30327 |
| Main Phone Number |
404-846-5000 |
| Fax Number |
404-504-9388 |
| Investor Relations
Polly Butler
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404-846-5022
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Toll Free Phone Number |
Unknown |
| CEO - David P. Stockert |
CFO - Christopher J. Papa |
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