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SCE Trust VI, 5.00% Cumulative Trust Preference Securities
Ticker Symbol: SCE-L CUSIP: 78410V200 Exchange: NYSE
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QUANTUMONLINE.COM SECURITY DESCRIPTION: SCE Trust II, 5.00% Cumulative Trust Preference Securities, liquidation amount $25 per share, guaranteed by Southern California Edison Co., a subsidiary of Edison International (NYSE: EIX) (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 6/26/2022 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. The preference shares may be redeemed prior to 3/15/2018 if certain changes in tax or investment company law or interpretation occur and certain other conditions are satisfied. Cumulative distributions of 5.00% per annum ($1.25 per annum or $0.3125 per quarter) will be paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the record date which will be one business day prior to the payment date while the securities remain in book-entry form (NOTE: the ex-dividend date is one business day 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 (see page 5 of the prospectus for further information). This security was rated as Baa1 by Moody’s and BBB- by S&P at the date of its IPO. In regard to the payment of dividends and upon liquidation, the preference shares rank junior to the company's senior debt and preferred stock, equally with other preference securities of the company, and senior to the common shares of the company. The only assets of SCE Trust II will be the shares of the Series G Preference Stock, which have substantially the same payment terms as the Trust Preference Securities. See the IPO prospectus for further information on the trust preference securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (EIX)
IPO - 6/19/2017 - 19.00 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: SCEEP Changed: 6/29/2017
Market Value $475.0 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: 2244 Walnut Grove Avenue, Rosemead, CA 91770 |
| Main Phone Number |
626-302-2222 |
| Fax Number |
626-302-2117 |
| Investor Relations
Sam Ramraj
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626-302-2540
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| Toll Free Phone Number |
877-379-9515 |
| CEO - Kevin M. Payne |
CFO - William (Tres) Petmecky |
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