Post Properties Inc | 8 1/2% Series A Cumulative Redeemable Preferred Shares (PPS.PRA)
Prospectus excerpt: Dividends on the 8 1/2% Series A Cumulative Redeemable Preferred Shares, $.01 par value per share (the "Preferred Shares"), of Post Properties, Inc. (the "Company") will be cumulative from the date of original issue and will be payable quarterly on or about the last day of March, June, September and December of each year, commencing December 31, 1996, at the rate of 8 1/2% of the liquidation preference per annum (equivalent to $4.25 per annum per share).
The Preferred Shares are not redeemable prior to October 1, 2026. On or after October 1, 2026, the Preferred Shares may be redeemed for cash at the option of the Company in whole or in part, at a redemption price of $50.00 per share, plus accrued and unpaid dividends, if any, thereon.
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Post Properties is a self-administrated and self-managed equity real estate investment trust (REIT). Co. and its subsidiaries develop, own and manage upscale multi-family apartment communities in selected markets in the U.S. Co., through its wholly-owned subsidiaries, is the general partner and owns a majority interest in Post Apartment Homes, L.P. which, through its subsidiaries, conducts substantially all of the on-going operations of Co. At Dec 31 2015, Co. had interests in 24,162 apartment units in 61 communities. The main operating divisions of Co. include Post Apartment Management, Post Construction and Property Services, Post Investment Group and Post Corporate Services. Preferred: PPS.PRA Open the PPS Information Page » |
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