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Southern Co. Capital Trust V, 6.875% QUIPS Qrtly Inc Preferred Sec
Ticker Symbol: SO-C* CUSIP: 842637209 Exchange: NYSE
* NOTE: This security is no longer trading as of 12/23/2003
Security has been Called for: Tuesday, December 23, 2003
Nov 11, 2003 -- Southern Company today announced the planned redemption on Dec. 23, 2003, of all $150 million aggregate liquidation amount of the Southern Company Capital Trust V 6.875 percent Cumulative Quarterly Income Preferred Securities due Dec. 31, 2028. The redemption price for the full redemption of the Southern Company Capital Trust V 6.875 percent Preferred Securities will be $25 per Cumulative Quarterly Income Preferred Security plus accrued and unpaid distributions thereon to the redemption date.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Southern Co. Capital Trust V, 6.875% Cumulative Quarterly Income Preferred Securities (QUIPS), liquidation amount $25 per share, guaranteed by Southern Co. (NYSE: SO), redeemable at the issuer's option on or after 12/23/2003 at $25 per share plus accrued and unpaid dividends, maturing 12/31/2028, distributions of 1.71875% per annum are paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the 15th business day prior to the payment date. 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 6.875% Junior Subordinated Deferrable Interest Notes due 12/31/2028 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 (SO)
IPO - 12/22/1998 - 6.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $148.0 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: 30 Ivan Allen Jr. Boulevard, N.W., Atlanta, GA 30308 |
| Main Phone Number |
404-506-5000 |
| Fax Number |
404-506-0455 |
| Investor Relations
Glen Kundert
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404-506-5135
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| Toll Free Phone Number |
866-762-6411 |
| CEO - David M. Ratcliffe |
CFO - Thomas A. Fanning |
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