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Apollo Commercial Real Estate Finance, 8.00% Cumul Redeem Perp Preferred Stock C
Ticker Symbol: ARI-C* CUSIP: 03763V201 Exchange: NYSE
* NOTE: This security is no longer trading as of 6/10/2019
Security has been Called for: Monday, June 10, 2019
May 10, 2019 -- Apollo Commercial Real Estate Finance, Inc. announced today that it will redeem all 6,900,000 issued and outstanding shares of its 8.00% Series C Cumulative Redeemable Perpetual Preferred Stock on June 10, 2019. The shares of Series C Preferred Stock will be redeemed at the redemption price of $25.00 per share, plus a dividend in an amount of $0.2223 per share, representing all accumulated and unpaid dividends to, but not including, the Redemption Date. On the Redemption Date, dividends on the Series C Preferred Stock will cease to accrue. The notice of redemption will be mailed today to holders of record of shares of the Series C Preferred Stock. All of the shares of Series C Preferred Stock are held through The Depository Trust & Clearing Corporation ("DTCC") and will be redeemed in accordance with DTCC's procedures. Questions relating to the notice of redemption should be directed to EQ Shareholder Services, the Company's redemption agent (the "Agent"), at (800) 468-9716. The address of the Agent is EQ Shareholder Services, Attn: Corporate Actions Department, 1110 Centre Pointe Curve, Suite 101, Mendota Heights, MN 55120. ____________ 8/29/2016 -- At the effective time of the second merger, each outstanding share of AMTG’s 8.00% Series A Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value, automatically converted into the right to receive one newly issued share of 8.00% Series C Cumulative Redeemable Perpetual Preferred Stock, $0.01 par value, of the Company.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Apollo Commercial Real Estate Finance, 8.00% Series C Cumulative Redeemable Perpetual Preferred Stock, formerly the Apollo Residential Mortgage, 8.00% Series A Cumulative Redeemable Perpetual Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 9/20/2017 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 8.00% per annum ($2.00 per annum or $0.50 per quarter) will be paid quarterly on 1/31, 4/30, 7/31 & 10/31 to holders of record on the record date fixed by the board, not more than 45 days prior to the payment date (NOTE: the ex-dividend date is one business day 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 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. 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 (ARI)
IPO - 9/13/2012 - 6.00 Million Shares @ $25/share.
Link to IPO Prospectus
Previous Ticker Symbol: AMTG-A Changed: 8/29/2016
Previous Name: Apollo Residential Mortgage, 8.00% Series A Cumul Redeem Perp Preferred Stock Changed: 8/29/2016
Market Value $150.0 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: 9 West 57th Street, 43rd Floor, New York, NY 10019 |
Main Phone Number |
212-515-3200 |
Fax Number |
Not Available |
Investor Relations
Hilary Ginsberg
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212-822-0767
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CEO - Stuart A. Rothstein |
CFO - Jai Agarwal |
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