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Virginia Power Capital Trust II, 7.375% Trust Preferred Securities
Ticker Symbol: VEL-A* CUSIP: 928083203 Exchange: NYSE
* NOTE: This security is no longer trading as of 5/19/2008
Security has been Called for: Monday, May 19, 2008
May 2, 2008 -- Virginia Electric and Power Company, a wholly owned subsidiary of Dominion (NYSE: D), announced today that Virginia Power Capital Trust II (VEL PrA), a subsidiary of Virginia Electric and Power Company, will redeem all outstanding shares of its 7.375 percent Trust Preferred Securities on May 19, 2008. The paying agent is The Bank of New York. The redemption price is 100 percent of the liquidation amount of each trust preferred security ($25.00 per security) plus accrued but unpaid distributions to but not including the redemption date. The record date will be May 16, 2008.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Virginia Power Capital Trust II, 7.375% Trust Preferred Securities, liquidation amount $25 per share, guaranteed by Virginia Electric and Power Co., a wholly-owned subsidiary of Dominion Resources Inc. (NYSE: D), redeemable at the issuer's option on or after 8/23/2007 at $25 per share plus accrued and unpaid dividends, maturing 7/30/2042, distributions of 7.375% ($1.84375) per annum are paid quarterly on 1/30, 4/30, 7/30 & 10/30 to holders of record one business day prior to the payment date while the securities remain in book-entry form. 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 7.375% Junior Subordinated Deferrable Interest Notes due 7/30/2042 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 (D)
IPO - 8/20/2002 - 15.40 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $385.0 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: 120 Tredegar Street, Richmond, VA 23219 |
| Main Phone Number |
804-819-2000 |
| Fax Number |
804-819-2205 |
| Investor Relations
Laura Kottkamp
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804-819-2254
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| Toll Free Phone Number |
800-552-4034 |
| CEO - Thomas F. Farrell, II |
CFO - Thomas N. Chewning |
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