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Washington Prime Group, 6.875% Series I Cumulative Redeemable Preferred Shares
Ticker Symbol: WPG-I CUSIP: 92939N409 Previous CUSIP: 379302607 Exchange: NYSE
Security Type: Traditional Preferred Stock
QUANTUMONLINE.COM SECURITY DESCRIPTION: Washington Prime Group, Inc. formerly WP GLIMCHER, Inc., formerly Glimcher Realty Trust, 6.875% Series I Cumulative Redeemable Preferred Shares of Beneficial Interest, liquidation preference $25 per share, redeemable at the issuer's option on or after 3/27/2018 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 6.875% per annum ($1.71875 per annum or $0.4296875 per quarter) will be paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date fixed by the board, not more than 60 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). Upon the occurrence of a change of control resulting in the common shares of the surviving entity no longer being listed on the NYSE, the AMEX or the Nasdaq exchanges the company will have the option within 120 days to redeem the preferred shares at $25 per share plus accrued and unpaid dividends. If the company has exercised their redemption right, the holders will not have the following conversion right. Upon the occurrence of a change of control, and the company has not provided notice that they intend to redeem the preferred shares, the holder will have the right to convert the preferred shares into common shares under certain circumstances (see the prospectus for details). Dividends paid by preferreds issued by REITs are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. This security was rated as B2 by Moody's and CCC+ by S&P at the date of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the 'Link to IPO Prospectus' provided below.
Cpn Rate
Ann Amt
LiqPref
CallPrice
Call Date
Matur Date
Moodys/S&P
$25.00 3/27/2018
None C CC
1/20/2021 1/15, 4/15, 7/15 & 10/15
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
Go to Parent Company's Record (WPG)
Notes: 8/30/2016 -- Common shareholders of the Company approved a proposal to change the corporate name to Washington Prime Group Inc. effective immediately. ____________ Jan. 15, 2015-- Washington Prime Group Inc. (NYSE:WPG) today announced it has completed the previously announced acquisition of Glimcher Realty Trust. Under the terms of the merger agreement, Glimcher shareholders will receive, for each Glimcher share, $10.40 in cash and 0.1989 of a share in WPG common stock. The company will be known as WP GLIMCHER, Inc. and continue to trade on the New York Stock Exchange under the ticker WPG.
IPO - 3/21/2013 - 3.60 Million Shares @ $25.00 /share. Link to IPO Prospectus Previous Ticker Symbol: GRT-I Changed: 1/15/2015 Previous Name: Glimcher Realty Trust, 6.875% Series I Cumulative Redeemable Preferred Shares Changed: 1/15/2015 Market Value $90.0 Million
Click for current WPG-I price quote from the NYSE
Company's Online Information Links
HOME PAGE: https://www.washingtonprime.com/home/default.aspx
Company's Investor Relations Information Go to Investor Relations Information
Company's Online News Releases Go to News Releases
Online Company Profile Go to Online Profile
Company's Online SEC EDGAR Filings
Company's SEC EDGAR Filings Go to SEC Filings
Company's Email Address Links
Email Address kim.green@washingtonprime.com
Email Contact Form on Website Go to Email Form
Address and Phone Numbers
Address: 180 East Broad Street, Columbus, OH 43215
Fax Number Not Available
Investor Relations Kimberly A. Green 614-887-5647
CEO - Louis G. Conforti CFO - Mark E. Yale
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