PreferredStockChannel
Strategic Hotels & Resorts, Inc. | 8.25% Series B Cumulative Redeemable Preferred Stock (BEE.PRB)

This preferred is marked as having been called.
Prospectus excerpt:  We are offering 4,000,000 shares of our 8.25% Series B Cumulative Redeemable Preferred Stock, par value $0.01 per share, which we refer to in this prospectus supplement as the Series B Preferred Stock. We will pay cumulative dividends on the Series B Preferred Stock from, but excluding, the date of original issuance in the amount of $2.0625 per share each year, which is equivalent to 8.25% of the $25.00 liquidation preference per share. However, if following a Ùchange of control,ˆ the Series B Preferred Stock is not listed on the New York Stock Exchange or the American Stock Exchange or quoted on NASDAQ, investors will be entitled to receive cumulative cash dividends from, but excluding, the first date on which both the change of control has occurred and the Series B Preferred Stock is not so listed or quoted at the increased rate of 9.25% per annum of the $25.00 liquidation preference (equivalent to $2.3125 per annum per share) for as long as the Series B Preferred Stock is not so listed or quoted. Dividends on the Series B Preferred Stock will be payable quarterly in arrears, beginning on March 31, 2006.

Investors in our Series B Preferred Stock generally will have no voting rights but will have limited voting rights if we fail to pay dividends for six or more quarters and under certain other circumstances.

We may not redeem the Series B Preferred Stock before January 31, 2011, except in limited circumstances to preserve our status as a real estate investment trust, or REIT, or as described below. On or after January 31, 2011, we may, at our option, redeem the Series B Preferred Stock, in whole or in part, by paying $25.00 per share, plus any accrued and unpaid dividends to the redemption date. If at any time following a Ùchange of control,ˆ the Series B Preferred Stock is not listed on the New York Stock Exchange or the American Stock Exchange or quoted on NASDAQ, we will have the option to redeem the Series B Preferred Stock, in whole but not in part, within 90 days after the first date on which both the change of control has occurred and the Series B Preferred Stock is not so listed or quoted, for cash at $25.00 per share, plus accrued and unpaid dividends, if any, to the redemption date. Our Series B Preferred Stock has no stated maturity, will not be subject to any sinking fund or mandatory redemption and will not be convertible into any of our other securities.

Full Prospectus PDF », Secondary Prospectus PDF », BEE Page »

Series:B
Alternate symbology:BEE-B, BEE-PB, BEEprB
Redeemable?:Yes
Call Date:1/31/2011 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:4,000,000
Overallotment:600,000
Liquidation Preference:$25.00
Original Coupon:8.25%
Pay Period:Quarterly
Pay Dates:31-Mar, 30-Jun, 30-Sep, 31-Dec
CDx3 Compliance Rating: Learn BEE.PRB's Rating
Strategic Hotels & Resorts operates as a self-administered and self-managed real estate investment trust. Co. conduct its operations through its direct and indirect subsidiaries including Strategic Hotel Funding, L.L.C. As of Feb 23 2015, Co.: wholly owned or leased 14 hotels, had 53.5% and 51.0% interests in affiliates that each own one hotel where Co. asset managed such hotels, own land held for development including: 50.7 acres of oceanfront land in Nayarit, Mexico; 13.8 acres of land in Scottsdale, AZ, entitled for development and residential usage; and a 20,000 sq. ft. oceanfront land parcel in Santa Monica, CA, entitled for development and residential units.

Preferreds: BEE.PRB, BEE.PRC, BEE.PRA


Open the BEE Information Page »
Name: 
Strategic Hotels & Resorts, Inc.
Website: 
www.strategichotels.com
Sector: 
REITs

Quotes delayed 20 minutes

Email EnvelopeFree Email Alerts:
Get Dividend Alerts
Get SEC Filing Alerts
Top Ten Highest Yielding Preferred Stocks
Feel-Good Income: Socially Responsible Preferreds
Dividend Channel's 25 S.A.F.E. Dividend Stocks
Increasing Payments For Decades

Safer than S.A.F.E: Preferreds of Dividend Channel's
S.A.F.E. Dividend Stocks

Recent Preferred Stock Offerings
Preferred Stocks of Dow Components
Preferred Stocks of S&P 500 Components
Preferred Stocks By Industry
Preferred Stocks Where Insiders Are Buying The Common
High Yield Preferred Stocks
Preferreds Trading At Premiums To Liquidation Preference
Preferreds Trading At Discounts To Liquidation Preference
The Top 10 DividendRank'ed U.S. Stocks
The Top 10 DividendRank'ed Canadian Stocks
Top 25 Broker Analyst Picks of the S&P 500
Stock market game

Strategic Hotels & Resorts, Inc. | 8.25% Series B Cumulative Redeemable Preferred Stock (BEE.PRB) Information Page | Preferred Stock Channel | www.PreferredStockChannel.com

Copyright © 2010 - 2024, All Rights Reserved Nothing in Preferred Stock Channel is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy. Video widget and videos powered by Market News Video. Quote data delayed at least 20 minutes; data powered by Ticker Technologies, and Mergent. Contact Preferred Stock Channel; Meet Our Editorial Staff.