The dividend rate is 6.000% per annum of the $25.00 per share liquidation preference, which is equivalent to $1.50 per annum per Series 7 Preferred Share. Dividends on the Series 7 Preferred Shares will be payable quarterly in arrears on or about March 31, June 30, September 30 and December 31 of each year. The first dividend on the Series 7 Preferred Shares sold in this offering will be paid on December 31, 2012 and will be in the amount of $0.53333 per share.
Generally, we may not redeem the Series 7 Preferred Shares until August 23, 2017. On and after August 23, 2017, we may, at our option, redeem the Series 7 Preferred Shares, in whole or from time to time in part, by paying $25.00 per share, plus any accrued and unpaid dividends to, but not including, the date of redemption. In addition, upon the occurrence of a change of control the result of which our common stock, par value $0.01 per share (Ùcommon sharesˆ), and the common securities of the acquiring or surviving entity (or American Depositary Receipts (ÙADRsˆ) representing such securities) are not listed on the New York Stock Exchange, Inc. (the ÙNYSEˆ), the NYSE MKT or the NASDAQ Stock Market (ÙNASDAQˆ) or listed or quoted on a successor exchange or quotation system, we may, at our option, redeem the Series 7 Preferred Shares, in whole or in part and within 120 days after the first date on which such change of control occurred, by paying $25.00 per share, plus any accrued and unpaid dividends to, but not including, the date of redemption. If we exercise any of our redemption rights relating to the Series 7 Preferred Shares, the holders of Series 7 Preferred Shares will not have the conversion right described below. The Series 7 Preferred Shares have no maturity date and will remain outstanding indefinitely unless redeemed by us or converted into common shares in connection with a change of control by the holders of Series 7 Preferred Shares.
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Regency Centers is a fully integrated real estate company and real estate investment trust. Co.'s subsidiary, Regency Centers L.P., is the entity through which Co. conducts substantially all of its operations and owns substantially all of its assets. Co.'s business consists of acquiring, developing, owning and operating retail real estate principally located in various markets within the U.S. Co. is a national owner, operator, and developer of shopping centers located in suburban trade areas. Co.'s portfolio includes several properties merchandised with various grocers, restaurants, service providers, and various retailers that connect to their neighborhoods, communities, and customers. Preferreds: REG.PRE, REG.PRF, REG.PRG, REGCP, REGCO Open the REG Information Page » |
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