American Finance Trust Inc | 7.50% Series A Cumulative Redeemable Perpetual Preferred Stock (AFINP)
Prospectus excerpt: Holders of Series A Preferred Stock will be entitled to cumulative dividends in the amount of? $1.875 per share each year, which is equivalent to the rate of 7.50% of the $25.00 liquidation preference per share per annum. Dividends on the Series A Preferred Stock will be payable quarterly in arrears on the 15th day of each of January, April, July and October of each year (or, if not a business day, the next succeeding business day) to holders of record on the applicable record date. The first quarterly dividend payment date for the Series A Preferred Stock will be July 15, 2019 and will represent an accrual for more than a full quarter, covering the period from March 26, 2019 to June 30, 2019.
American Finance Trust is a real estate investment trust with a retail focus. Co.'s retail focus is comprised of commercial properties which are net leased primarily to investment grade and other creditworthy tenants and, as a result of the merger of American Realty Capital Retail Operating Partnership, L.P. with and into Co.'s operating partnership, American Finance Operating Partnership, L.P., a portfolio of retail properties, consisting primarily of power centers and lifestyle centers. Substantially all of Co.'s business is conducted through American Finance Operating Partnership, L.P. and its wholly-owned subsidiaries.