DIVIDENDS ON THE SERIES I PREFERRED SHARES WILL BE CUMULATIVE FROM THE DATE OF ORIGINAL ISSUE AND PAYABLE QUARTERLY, BEGINNING ON OCTOBER 1, 2005, AT THE RATE OF 6.625% OF THE LIQUIDATION PREFERENCE PER ANNUM, OR $1.65625 PER SERIES I PREFERRED SHARE PER ANNUM.
EXCEPT IN INSTANCES RELATING TO PRESERVATION OF OUR STATUS AS A REAL ESTATE INVESTMENT TRUST, THE SERIES I PREFERRED SHARES ARE NOT REDEEMABLE UNTIL AUGUST 31, 2010. ON AND AFTER AUGUST 31, 2010, WE MAY REDEEM THE SERIES I PREFERRED SHARES IN WHOLE AT ANY TIME OR IN PART FROM TIME TO TIME AT A REDEMPTION PRICE OF $25.00 PER SHARE, PLUS ANY ACCRUED AND UNPAID DIVIDENDS THROUGH THE DATE OF REDEMPTION. THE SERIES I PREFERRED SHARES HAVE NO MATURITY DATE AND WILL REMAIN OUTSTANDING INDEFINITELY UNLESS REDEEMED.
WE INTEND TO FILE AN APPLICATION TO LIST THE SERIES I PREFERRED SHARES ON THE NEW YORK STOCK EXCHANGE. IF THIS APPLICATION IS APPROVED, TRADING OF THE SERIES I PREFERRED SHARES ON THE NEW YORK STOCK EXCHANGE IS EXPECTED TO BEGIN WITHIN 30 DAYS FOLLOWING INITIAL DELIVERY OF THE SERIES I PREFERRED SHARES.
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Vornado Realty Trust is a real estate investment trust and conducts its business through, and substantially all of its interests in properties are held by, Vornado Realty L.P. (the Operating Partnership). Co. is the sole general partner of the Operating Partnership. Co. owns and operates office and retail properties with a concentration in the New York City metropolitan area. In addition, Co. has interest in Alexander's, Inc., which owns properties in the New York metropolitan area, as well as interests in other real estate and investments. Preferreds: VNORP, VNO.PRF, VNO.PRG, VNO.PRH, VNO.PRI, VNO.PRJ, VNO.PRK, VNO.PRL, VNO.PRM, VNO.PRN, VNO.PRO Open the VNO Information Page » |
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