{"id":559,"date":"2007-02-05T17:29:25","date_gmt":"2007-02-05T21:29:25","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=559"},"modified":"2007-02-05T17:29:25","modified_gmt":"2007-02-05T21:29:25","slug":"divpra-to-be-redeemed","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=559","title":{"rendered":"DIV.PR.A to be Redeemed"},"content":{"rendered":"<p>Coastal Income Corp has announced (via <a href=\"http:\/\/www.ccnmatthews.com\">CCN Matthews<\/a>) that:<\/p>\n<blockquote><p>it will redeem all of its issued Senior Preferred shares (TSX:DIV.pr.A) on March 20, 2007. The redemption will be made in accordance with the Fund&#8217;s articles and results from a retraction of the Capital shares. Shareholders need not take any action relating to the redemption; the Fund&#8217;s transfer agent CIBC Mellon will automatically redeem the shares on March 20, 2007 and deposit cash proceeds directly into shareholder&#8217;s accounts equal to $25.51071, representing $25.20 per share plus $0.31071 per share representing accrued and unpaid dividends. Post the redemption, the Senior Preferred shares will no long be listed on the TSX.<\/p><\/blockquote>\n<p>The closing quotation today was 25.67-00, with 3,400 shares trading, all in the 25.96-00 range.<\/p>\n<p>I mentioned this issue in the post <a href=\"http:\/\/www.prefblog.com\/?p=462\">Mean-YTW on SplitShare Index Goes Negative!<\/a><\/p>\n<p>Hat-tip to the reader who brought this to my attention!<\/p>\n<p>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Coastal Income Corp has announced (via CCN Matthews) that: it will redeem all of its issued Senior Preferred shares (TSX:DIV.pr.A) on March 20, 2007. The redemption will be made in accordance with the Fund&#8217;s articles &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-559","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/559","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=559"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/559\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}