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Southern California Edison, Variable Rate Series A Non-cumul Preference Stock
Ticker Symbol: SCEDN* CUSIP: 842400756 Exchange: OTOTC
* NOTE: This security is no longer trading as of 9/16/2015
Security has been Called for: Wednesday, September 16, 2015
8/17/2015 -- Southern California Edison (SCE) announced today that it intends to redeem all of the outstanding shares of its Series A Preference Stock. The redemption date will be Sep. 16, 2015, and the redemption price will be $100 per share of Series A Preference Stock plus accrued and unpaid dividends up to, but excluding the redemption date. SCE intends to redeem the shares of Series A Preference Stock using the proceeds of an offering of a new series of preference securities. All shares of the Series A Preference Stock are held through The Depository Trust Company, and the shares will be redeemed according to The Depository Trust Company’s procedures. On or before the redemption date, SCE will deposit in escrow for the benefit of the holders the funds necessary for the redemption of the Series A Preference Stock, including accrued and unpaid dividends. On and after the redemption date, all of the outstanding shares of Series A Preference Stock shall be deemed no longer to be outstanding, dividends on the Series A Preference Stock shall cease to accrue, and all rights with respect to the shares called for redemption will thereafter cease and terminate at the close of business on the redemption date, except only the right of the holders to receive the redemption price, but without interest, upon surrender of their shares. Questions relating to, and request for additional copies of, the notice of redemption and related materials should be directed to Wells Fargo Bank, N.A. at (800) 347-8625.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Southern California Edison, Series A Preference Stock, Non-Cumulative, liquidation preference $100 per share, redeemable at the issuer's option on or after 4/30/2010 at $100 per share plus declared and unpaid dividends, with no stated maturity, and with non-cumulative dividend distributions of 5.34% ($5.34) per annum paid quarterly through 4/30/2010 on 1/31, 4/30, 7/31 & 10/31 to holders of record on the date fixed by the board. After 4/30/2010 dividends will be paid at an annual rate of 1.45% plus the highest of the three-month LIBOR Rate, the 10-year Treasury CMT and the 30-year Treasury CMT. Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders. In regards to payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock and the variable rate dividends by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (EIX)
IPO - 4/22/2005 - 4.00 Million Shares @ $100.00/share.
Link to IPO Prospectus
Market Value $404.0 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: 2244 Walnut Grove Avenue, Rosemead, CA 91770 |
Main Phone Number |
626-302-2222 |
Fax Number |
626-302-2117 |
Investor Relations
Scott Cunningham
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626-302-2540
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Toll Free Phone Number |
877-379-9515 |
CEO - Theodore F. Craver, Jr. |
CFO - W. James Scilacci |
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