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Arbor Realty Trust, 7.75% Series B Cumulative Redeemable Preferred Stock
Ticker Symbol: ABR-B* CUSIP: 038923702 Exchange: NYSE
* NOTE: This security is no longer trading as of 6/24/2021
Security has been Called for: Thursday, June 24, 2021
May 26, 2021 -- Arbor Realty Trust, Inc. (the “Company”) (NYSE:ABR) announced today that it will redeem all of the outstanding (i) 1,551,500 shares of its 8.250% Series A Cumulative Redeemable Preferred Stock (the “Series A Preferred Stock”), (ii) 1,260,000 shares of its 7.75% Series B Cumulative Redeemable Preferred Stock (the “Series B Preferred Stock”), and (iii) 900,000 shares of its 8.50% Series C Cumulative Redeemable Preferred Stock (the “Series C Preferred Stock” and, together with the Series A Preferred Stock and the Series B Preferred Stock, the “Outstanding Preferred Stock”), at redemption prices equal to $25.00 per share of Outstanding Preferred Stock, plus any accumulated and unpaid dividends thereon to, but not including, June 24, 2021 (the “Redemption Date”). The Series A Preferred Stock, the Series B Preferred Stock and the Series C Preferred Stock trade under ticker symbols “ABR PA,” “ABR PB” and “ABR PC,” respectively.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Arbor Realty Trust, 7.75% Series B Cumulative Redeemable Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 5/9/2018 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 7.75% per annum ($1.9375 per annum or $0.484375 per quarter) will be paid quarterly on 2/28, 5/31, 8/31 & 11/30 to holders of record on the record date that will be the 15th calendar day of the month in which the payment is due (NOTE: the ex-dividend date is one business day prior to the record date). Upon the occurrence of a change of control 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 (ABR)
IPO - 5/6/2013 - 1.20 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: ABRBP Changed: 5/13/2013
Market Value $31.5 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: 333 Earle Ovington Blvd., Uniondale, NY 11553 |
| Main Phone Number |
516-506-4200 |
| Fax Number |
Not Available |
| Investor Contact (CFO)
Paul Elenio
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516-506-4200
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| CEO - Ivan Kaufman |
CFO - Paul Elenio |
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