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ARMOUR Residential REIT, 7.875% Series B Cumulative Redeemable Preferred Stock
Ticker Symbol: ARR-B* CUSIP: 042315408 Exchange: NYSE
* NOTE: This security is no longer trading as of 2/27/2020
Security has been Called for: Thursday, February 27, 2020
From the form 424B5 prospectus filed witht the SEC on 1/24/2020 -- We have announced our intention to redeem 100%, or 8,383,344 shares, of our outstanding 7.875% Series B Cumulative Redeemable Preferred Stock, liquidation preference $25.00 per share, at a price of $25.00 per share, on February 27, 2020. ____________ Jan. 23, 2020 -- ARMOUR Residential REIT, Inc. today announced the pricing of its underwritten registered public offering of 3 million shares of its new 7.00% Series C Cumulative Redeemable Preferred Stock at a public offering price of $25.00 per share. The Company plans to use the net proceeds of this offering as a portion of the funds used to redeem 100% of the shares of its outstanding 7.875% Series B Cumulative Redeemable Preferred Stock (NYSE: ARR-PB, CUSIP 042315408), which is an increase from the previously announced partial redemption.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: ARMOUR Residential REIT, 7.875% Series B Cumulative Redeemable Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 2/12/2018 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 7.875% per annum ($1.96875 per annum or $0.1640625 per month) will be paid monthly on the 27th of each month to holders of record on the record date that will be the 15th 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 (ARR)
IPO - 2/8/2013 - 5.40 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: ARRPP Changed: 2/12/2013
Market Value $135.0 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: 3001 Ocean Drive, Suite 201, Vero Beach, FL 32963 |
| Main Phone Number |
772-617-4340 |
| Fax Number |
Not Available |
| Investor Contact (CFO)
James R. Mountain
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772-617-4340
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| CEO - Scott J. Ulm |
CEO - Jeffrey J. Zimmer |
CFO - James R. Mountain |
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