Kimco Realty Corp | 5.25% Class M Cumulative Redeemable Preferred Stock (KIM.PRM)
Prospectus excerpt: We are offering and selling 9,200,000 of our depositary shares, each of which represents a 1/1000 interest in a share of our Class M cumulative redeemable preferred stock that we have deposited with Wells Fargo Bank, N.A. as depositary. We will receive the net proceeds from the sale of the depositary shares. As a holder of a depositary share, you will be entitled to proportional rights and preferences as if you held 1/1000 of a share of our Class M preferred stock. Dividends on the Class M preferred stock represented by the depositary shares will be cumulative from, and including, the date of original issue and will be payable, subject to authorization by our Board of Directors, quarterly in arrears on January 15, April 15, July 15 and October 15 of each year (or, if such date is not a business day, on the next succeeding business day), commencing April 15, 2018, at the rate of 5.25% of the $25,000.00 liquidation preference per year, or $1,312.50 per share of our Class M preferred stock (equal to $1.3125 per year per depositary share).
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Kimco Realty is a self-administered real estate investment trust. Co. is engaged principally in the ownership, management, development and operation of open-air shopping centers, which are anchored primarily by grocery stores, off-price retailers, discounters or service-oriented tenants. Additionally, Co. provides complementary services that capitalize on Co.'s established retail real estate capability. Co.'s ownership interests in real estate consist of its consolidated portfolio and portfolios where Co. owns an economic interest, such as properties in Co.'s investment real estate management programs, where Co. partners with institutional investors and also retains management. Preferreds: KIM.PRF, KIM.PRG, KIM.PRH, KIM.PRI, KIM.PRJ, KIM.PRK, KIM.PRL, KIM.PRM Open the KIM Information Page » |
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