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Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Fri, May 20, 11:55 PM
| This Slide: #133 of 581 |
Slide #133. Stifel Financial Corp. — Preferred Stock Offering
Company:
Stifel Financial Corp. (NYSE:SF)
Date announced:
2/21/2019
Shares Offered:
6,000,000
Date of Pricing:
2/21/2019
Price Per Share:
$25.00
Preferred Stock Offering Details:
Stifel Financial Corp. (NYSE: SF) today announced it has priced an underwritten registered public offering of 6,000,000 depositary shares ($150 million of aggregate public offering price), each representing a 1/1000th interest in a share of perpetual 6.25% Non-Cumulative Perpetual Preferred Stock, Series B, $1.00 par value, with a liquidation preference of $25,000 per share (equivalent to $25 liquidation preference per depositary share). When, as, and if declared by the board of directors of the Company, dividends will be payable at an annual rate of 6.25%, payable quarterly, in arrears. The Company may redeem the Series B preferred stock at its option, subject to regulatory approval, on or after March 15, 2024 or following a regulatory capital treatment event as described in the prospectus supplement and accompanying prospectus relating to the offering. The Series B preferred stock will rank equally with the Company's outstanding perpetual 6.25% Non-Cumulative Preferred Stock, Series A with respect to the payment of dividends and the distribution of assets upon voluntary or involuntary liquidation, dissolution or winding up of the Company's affairs.
Stifel Financial is a financial holding company. Co.'s principal subsidiary is Stifel, Nicolaus & Company, Incorporated, a retail and institutional wealth management and investment banking firm. Co.'s principal activities are: private client services; institutional equity and fixed income sales, trading and research, and municipal finance; investment banking services; and retail and commercial banking. Co. has the following segments: Global Wealth Management, which provides securities transaction, brokerage, and investment services; and Institutional Group, which includes research, equity and fixed income institutional sales and trading, investment banking, public finance, and syndicate.
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Avg. Broker Rec.
 
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Buy (3.00 out of 4) 19th percentile
(ranked lower than approx. 81% of all stocks covered)
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