VEREIT® Announces Partial Redemption of 6.70% Series F Cumulative Redeemable Preferred Stock
PHOENIX , June 22, 2020 |PRNewswire| -- VEREIT, Inc. (NYSE: VER ) ("VEREIT") announced today that it intends to redeem 6,000,000 shares of its 6.70% Series F Cumulative Redeemable Preferred Stock ("Series F Preferred Stock"), representing approximately 19.44% of its approximately 30.9 million shares of Series F Preferred Stock, on July 22, 2020 (the "Redemption Date"). The shares of Series F Preferred Stock will be redeemed at a redemption price of $25.00 per share, plus accrued and unpaid dividends from July 15, 2020 to, but not including, the Redemption Date in an amount equal to $0.0325694 per share, for total proceeds of $25.0325694 per share (the "Redemption Price"). Payment of the Redemption Price will be made on July 22 , 2020. As previously announced, VEREIT will pay the cash dividend on the Series F Preferred Stock of $0.1395833 for the period from June 15, 2020 through July 14, 2020 to holders of Series F Preferred Stock as of July 1, 2020 , which is the record date for such dividend, on July 15 , 2020.
VEREIT® Announces Partial Redemption of 6.70% Series F Cumulative Redeemable Preferred Stock
PHOENIX , June 22, 2020 |PRNewswire| -- VEREIT, Inc. (NYSE: VER ) ("VEREIT") announced today that it intends to redeem 6,000,000 shares of its 6.70% Series F Cumulative Redeemable Preferred Stock ("Series F Preferred Stock"), representing approximately 19.44% of its approximately 30.9 million shares of Series F Preferred Stock, on July 22, 2020 (the "Redemption Date"). The shares of Series F Preferred Stock will be redeemed at a redemption price of $25.00 per share, plus accrued and unpaid dividends from July 15, 2020 to, but not including, the Redemption Date in an amount equal to $0.0325694 per share, for total proceeds of $25.0325694 per share (the "Redemption Price"). Payment of the Redemption Price will be made on July 22 , 2020. As previously announced, VEREIT will pay the cash dividend on the Series F Preferred Stock of $0.1395833 for the period from June 15, 2020 through July 14, 2020 to holders of Series F Preferred Stock as of July 1, 2020 , which is the record date for such dividend, on July 15 , 2020.