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AGNC Investment Corp., 7.75% Dep Shares Ser B Cumul Red Preferred Stock
Ticker Symbol: AGNCB* CUSIP: 00123Q302 Previous CUSIP: 02503X303 Exchange: NGS
* NOTE: This security is no longer trading as of 11/26/2019
Security has been Called for: Tuesday, November 26, 2019
Oct. 25, 2019 -- AGNC Investment Corp. announced today that it will redeem all 7,000 of the outstanding shares of its 7.750% Series B Cumulative Redeemable Preferred Stock and the corresponding seven million depositary shares, each representing a 1/1,000th interest in the Series B Preferred Stock on November 26, 2019. The redemption amount for the Series B Depositary Shares will be $25.00 per share, plus $0.22066 per share of accrued and unpaid dividends to, but not including, the Redemption Date. On the Redemption Date, dividends will cease to accumulate on the shares of the Series B Depositary Shares, shares of Series B Depositary Shares shall no longer be deemed outstanding, and all rights of the holders of those shares will terminate, except the right to receive the Redemption Amount. As the redemption is a redemption in full, the Series B Depositary Shares will cease trading on the Nasdaq Global Select Market (Nasdaq: AGNCB, CUSIP No. 00123Q302).
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QUANTUMONLINE.COM SECURITY DESCRIPTION: AGNC Investment Corp., formerly American Capital Agency Corp., 7.750% depositary shares, each representing a 1/1,000th interest in a depositary share of 7.75% Series B Cumulative Redeemable Preferred Stock, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 5/8/2019 at $25 per depositary 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 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date that will be the first day of the calendar month in which the dividend payment date falls (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 (AGNC)
IPO - 5/5/2014 - 7.00 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: AGNCL Changed: 5/13/2014
Previous Name: American Capital Agency Corp., 7.75% Dep Shares Ser B Cumul Red Preferred Stock Changed: 10/03/2016
ADR with an ADR ratio of
Market Value $175.0 Million
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: 2 Bethesda Metro Center, 12th Floor, Bethesda, MD 20814 |
Main Phone Number |
301-968-9300 |
Fax Number |
301-968-9301 |
Investor Relations
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301-968-9300
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Toll Free Phone Number |
Unknown |
CEO - Gary Kain |
CFO - Bernice E. Bell |
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