Urstadt Biddle Properties Inc | 6.250% Series H Cumulative Redeemable Preferred Stock (UBP.PRH)
Prospectus excerpt: Urstadt Biddle Properties Inc. is offering 4,000,000 shares of 6.250% Series H Cumulative Redeemable Preferred Stock, par value $0.01 per share, which we refer to in this prospectus supplement as the Series H Preferred Stock. Cash dividends on the Series H Preferred Stock will be cumulative from and including the original issue date and will be payable quarterly in arrears on or about January 31, April 30, July 31 and October 31 of each year beginning on October 31, 2017 at the rate of 6.250% per annum of the $25.00 per share liquidation preference, equaling a fixed annual dividend amount per share of $1.5625. The Series H Preferred Stock has no stated maturity and will not be subject to any sinking fund or mandatory redemption and will remain outstanding indefinitely unless redeemed or otherwise repurchased by us or converted by the holders in connection with a Change of Control (as defined in this prospectus supplement). The Series H Preferred Stock is not redeemable by us prior to September 18, 2022, except under circumstances where it is necessary to preserve our status as a real estate investment trust, or REIT, for U.S. federal income tax purposes and except as described below upon the occurrence of a Change of Control. On and after September 18, 2022, we may, at our option, redeem any or all of the Series H Preferred Stock for cash at a redemption price of $25.00 per share, plus accrued and unpaid dividends, if any, to but not including the redemption date (subject to the exception described below).
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