Telephone & Data Systems Inc | 6.625% Dep Shares Ser UU Cumulative Prfd Stock (TDS.PRU)
Prospectus excerpt: Each of the 16,000,000 depositary shares offered hereby (the “Depositary Shares”) represents a 1/1,000th interest in a share of 6.625% Series UU Cumulative Redeemable Perpetual Preferred Stock, par value $0.01 per share, with a $25,000 liquidation preference per share (equivalent to $25.00 per Depositary Share) (the “Series UU Preferred Stock”) of Telephone and Data Systems, Inc., deposited with Computershare Trust Company, as depositary (the “Depositary”). The Depositary Shares are evidenced by depositary receipts. As a holder of Depositary Shares, you will be entitled to a proportional fractional interest in all rights and preferences of the Series UU Preferred Stock (including dividend, voting, redemption and liquidation rights). You must exercise these rights through the Depositary. Dividends on the Series UU Preferred Stock, when, as and if declared by our board of directors (the “Board”) or any duly authorized committee of the Board, will be payable on the liquidation preference amount, on a cumulative basis, quarterly in arrears on March 31st, June 30th, September 30th and December 31st of each year, commencing on June 30, 2021. Dividends will be payable out of amounts legally available for the payment of dividends at an annual rate equal to 6.625% of the $25,000 liquidation preference per share of Series UU Preferred Stock (equivalent to $25.00 per Depositary Share). Dividends on the Series UU Preferred Stock will accumulate daily and be cumulative from, and including, the date of original issuance of the Series UU Preferred Stock.
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