Saul Centers Inc | 6.000% Series E Cumulative Redeemable Preferred Stock (BFS.PRE)
Prospectus excerpt: We are offering 4,000,000 depositary shares, each representing a 1/100th fractional interest in a share of 6.000% Series E Cumulative Redeemable Preferred Stock (the ÙSeries E preferred stockˆ), which we refer to in this prospectus as the depositary shares. 40,000 shares of Series E preferred stock underlying the depositary shares will be deposited with Continental Stock Transfer & Trust Company, as depositary. As a holder of the depositary shares, you will be entitled to all proportional rights, preferences and privileges of the Series E preferred stock represented thereby, including dividend, voting, redemption and liquidation rights and preferences. The proportionate liquidation preference of each depositary share is $25.00. We will pay quarterly cumulative distributions on the Series E preferred stock underlying the depositary shares, from, and including, the date of original issuance, in the amount of $1.50 per depositary share each year, which is equivalent to 6.000% of the $25.00 liquidation preference per depositary share. Dividends will be payable quarterly in arrears, on each January 15, April 15, July 15 and October 15, beginning on October 15, 2019. The initial dividend on the depositary shares sold in this offering will be $0.05833 per depositary share.
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Saul Centers operates as a real estate investment trust. Co., which conducts all of its activities through its subsidiaries, its limited partnership, Saul Holdings Limited Partnership, and two subsidiary limited partnerships, engages in the ownership, operation, management, leasing, acquisition, renovation, expansion, development and financing of community and neighborhood shopping centers and mixed-used properties, primarily in the Washington, DC/Baltimore, MD metropolitan area. Preferreds: BFS.PRA, BFS.PRB, BFS.PRC, BFS.PRD, BFS.PRE Open the BFS Information Page » |
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