Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, May 21, 7:52 AM
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Slide #514. International Shipholding Corporation — Preferred Stock Offering
International Shipholding Corporation (ISH)
Date of Pricing:
Preferred Stock Offering Details:
International Shipholding Corporation (NYSE:ISH) today announced that it plans to offer shares of its Series A Cumulative Redeemable Perpetual Preferred Stock (the "Series A Preferred Shares") in an underwritten registered public offering. --updated 2/14/13 - International Shipholding Corporation (NYSE:ISH) today announced that it has priced its $25 million public offering of shares of its Series A Cumulative Redeemable Perpetual Preferred Stock (the "Series A Preferred Shares") at $100 per share. ISH has granted the underwriters a 30-day option to purchase up to an additional $3.75 million of Series A Preferred Shares on the same terms and conditions. Dividends will be payable on the Series A Preferred Shares at an initial rate of 9.50% per annum of the stated liquidation preference when, as and if declared by ISH's board of directors. The offering is expected to close on February 21, 2013.
International Shipholding is a holding company. Co. operates a fleet of U.S. and International Flag vessels that provide international and domestic maritime transportation services to commercial and governmental customers. Co. has operations in markets including international service between U.S. Gulf Coast, U.S. East Coast, and U.S. West Coast ports and ports in Mexico, the Middle East and the Far East, and domestic transportation services along the U.S. Gulf Coast and East Coast. Co. has six operating segments: Jones Act; Pure Car Truck Carriers; Dry Bulk Carriers; Rail-Ferry; Specialty Contracts; and Other. As of Dec 31 2014, Co. owned or operated a total of 54 ocean-going vessels.
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Strong Buy (4.00 out of 4)
(ranked lower than approx. 76% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com