EMP.PR.B Called for Redemption

Empire Company has announced:

that it will redeem all of its Series 2 Preferred Shares on January 31, 2012 in accordance with their terms. Currently 164,900 Series 2 Preferred Shares are issued and outstanding. The Series 2 Preferred Shares will be redeemed at a price of $25 per share plus an amount equal to all dividends accrued and unpaid to January 31, 2012.

This is a tiny little issue with only 164,900 shares outstanding – market capitalization is $4.1-million.

EMP.PR.B was last mentioned on PrefBlog when it was downgraded to Pfd-4(high) by DBRS. DBRS discontinued the rating in February 2009.

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