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Public Storage, 5.20% Dep Shares Cumulative Preferred Stock Series W
Ticker Symbol: PSA-W* CUSIP: 74460W875 Exchange: NYSE
* NOTE: This security is no longer trading as of 9/30/2020
Security has been Called for: Wednesday, September 30, 2020
August 18. 2020 -- Public Storage (NYSE:PSA) announced today that it is calling for redemption all outstanding depositary shares representing interests in its 5.20% Cumulative Preferred Shares, Series W (NYSE:PSA-W) and 5.20% Cumulative Preferred Shares, Series X (NYSE:PSA-X) on September 30, 2020 at $25 per depositary share. The aggregate redemption amount to be paid to all holders of the depositary shares is $500,000,000 for the Series W and $225,000,000 for the Series X for a total of $725,000,000.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Public Storage Inc., 5.20% Depositary Shares each representing a 1/1,000 interest in a share of the 5.20% Cumulative Preferred Share of Beneficial Interest, Series W, liquidation preference $25.00 per depositary share, redeemable at the issuer's option on or after 1/16/2018 at $25 per depositary share plus accrued and unpaid dividends, and with no stated maturity. Cumulative of distributions of 5.20% ($1.30 per annum or $0.325 per quarter) are paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the record date fixed by the board, not less than 15 or more than 45 days preceding 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 (PSA)
IPO - 1/8/2013 - 18.00 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: PSAXL Changed: 1/16/2013
Market Value $450.0 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: 701 Western Avenue, Glendale, CA 91201 |
| Main Phone Number |
818-244-8080 |
| Fax Number |
818-553-2388 |
| Investor Contact
Ryan Burke
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818-244-8080
Ext: 1141
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| Toll Free Phone Number |
800-447-8673 |
| CEO - Joseph D. Russell, Jr. |
CFO - Tom Boyle |
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