From Marketwire …
Quebecor World Inc. (TSX:IQW)(NYSE:IQW) today announced that none of its 12,000,000 issued and outstanding Series 3 Cumulative Redeemable First Preferred Shares (TSX:IQW.PR.D) (the “Series 3 Preferred Shares”) will be converted into Series 2 Cumulative Redeemable First Preferred Shares (the “Series 2 Preferred Shares”).Shareholders who had elected to convert will have returned to them, as soon as practicable after December 1, 2007, share certificates representing the number of Series 3 Preferred Shares surrendered for conversion. Starting December 1, 2007 and until November 31, 2012, holders of Series 3 Preferred Shares will be entitled to receive quarterly fixed dividends at an annual rate of 6.13% subject to being declared by the Board of Directors of Quebecor World and as permitted by applicable law. The Series 3 Preferred Shares will remain listed on The Toronto Stock Exchange under the symbol IQW.PR.D.
It would seem that the market emphatically agrees with my assessment that the fixed-rate was the way to go for the next five years!
This entry was posted on Monday, November 19th, 2007 at 11:57 am and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed.
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IQW.PR.D : No Conversions, Rate 6.13%
From Marketwire …
It would seem that the market emphatically agrees with my assessment that the fixed-rate was the way to go for the next five years!
This entry was posted on Monday, November 19th, 2007 at 11:57 am and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.