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Stag Industrial, 6.625% Series B Cumulative Redeemable Preferred Stock
Ticker Symbol: STAG-B* CUSIP: 85254J300 Exchange: NYSE
* NOTE: This security is no longer trading as of 7/11/2018
Security has been Called for: Wednesday, July 11, 2018
June 11, 2018 -- STAG Industrial, Inc. today provided notice to the holders of its 6.625% Series B Cumulative Redeemable Preferred Stock (NYSE: STAG Pr B) of the redemption of all 2,800,000 outstanding shares of the Series B Preferred Stock. The Company will redeem the Series B Preferred Stock for a cash redemption price of $25.00 per share, plus accrued and unpaid dividends to but excluding the redemption date, without interest. The redemption date will be July 11, 2018. On the redemption date, dividends on the Series B Preferred Stock will cease to accrue. All shares of Series B Preferred Stock are held in book entry form, through the Depository Trust Company ("DTC"). Accordingly, the redemption of the Series B Preferred Stock, including payment of the redemption price, will be completed according to DTC's procedures. A notice of redemption and related materials were mailed today to the holders of record. Please direct any questions about the notice of redemption and related materials to Continental Stock Transfer & Trust Co. at (917) 262-2378.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Stag Industrial, Inc., 6.625% Series B Cumulative Redeemable Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 4/16/2018 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 6.625% per annum ($1.65625 per annum or $0.4140625 per quarter) will be paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the record date fixed by the board, not more than 35 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is at least 2 business days prior to the record date). Upon the occurrence of a change of control resulting in the common shares of the surviving entity no longer being listed on the NYSE, the AMEX or the Nasdaq exchanges the company will have the option within 120 days to redeem the preferred shares at $25 per share plus accrued and unpaid dividends. If the company has exercised their redemption right, the holders will NOT have the following conversion right. Upon the occurrence of a change of control, and the company has NOT provided notice that they intend to redeem the preferred shares, the holder will have the right to convert the preferred shares into common shares under certain circumstances (see the prospectus for details). 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. This security was not rated by Moody’s or S&P at the time of its IPO. 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 (STAG)
IPO - 4/9/2013 - 2.50 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: STGIB Changed: 4/17/2013
Market Value $62.5 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: One Federal Street, 23rd Floor, Boston, MA 02110 |
| Main Phone Number |
617-574-4777 |
| Fax Number |
617-574-0052 |
| Investor Relations
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617-226-4987
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Toll Free Phone Number |
Unknown |
| CEO - Benjamin S. Butcher |
CFO - William R. Crooker |
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