UMH Properties Inc | 6.75% Series C Cumulative Redeemable Preferred Stock (UMH.PRC)
This preferred is marked as having been called.
Prospectus excerpt: We are offering 5,000,000 shares of our 6.75% Series C Cumulative Redeemable Preferred Stock, par value $0.10 per share, which we refer to as Series C Preferred Stock. Holders of Series C Preferred Stock will be entitled to cumulative dividends in the amount of $1.6875 per share each year, which is equivalent to the rate of 6.75% of the $25.00 liquidation preference per share. Dividends on our Series C Preferred Stock will be payable quarterly in arrears on the 15th day of each of March, June, September and December of each year (or, if not a business day, the next succeeding business day) to holders of record on the applicable record date. The first quarterly dividend payment date for the Series C Preferred Stock will be September 15, 2017 and will be for the period from July 26, 2017 to August 31, 2017. The Series C Preferred Stock has no maturity and will remain outstanding indefinitely unless redeemed or otherwise repurchased. Except in limited circumstances relating to our qualification as a real estate investment trust, or REIT, and as described below, the Series C Preferred Stock will not be redeemable prior to July 26, 2022. On and after July 26, 2022, at any time and from time to time, the Series C Preferred Stock will be redeemable in whole, or in part, at our option, at a cash redemption price of $25.00 per share, plus all accrued and unpaid dividends (whether or not declared) to, but not including, the date of redemption.
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