trending Market Intelligence /marketintelligence/en/news-insights/trending/a5_UqJBmszHHIs6IxkJrIQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

BB&T to redeem 2 series of preferred shares

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible

BB&T to redeem 2 series of preferred shares

BB&T Corp. will redeem all of its outstanding 5.850% series D and 5.625% series E noncumulative perpetual preferred shares.

The corresponding depositary shares representing fractional interests in the preferred shares will be redeemed simultaneously with the respective series D or series E preferred stock. The series D and series E depositary shares each represent 0.001 of a share of the company's series D and series E preferred stock, respectively.

All 23 million outstanding series D depositary shares and all 46 million outstanding series E depositary shares will be redeemed on the dividend payment date of Sept. 1. These will be redeemed at a redemption price of $25 per depositary share, equivalent to $25,000 per preferred share.

The redemption price for the series D and series E preferred shares will not include any accrued and unpaid dividends. Regular dividends on the outstanding series D and series E preferred shares of $365.625 per share and $351.5625 per share, respectively, will be paid separately to holders of record as of Aug. 14.

On and after the redemption date, all dividends on the preferred shares will cease to accrue. In addition, since Sept. 1 is not a business day, all of the redemption price per preferred share, redemption price per depositary share and regular quarterly dividends for each of the preferred shares will be paid on the next succeeding business day, Sept. 3.

The series D depositary shares and a portion of the series E depositary shares are held through The Depository Trust Co. Payment to The Depository Trust for these depositary shares will be made by Computershare Trust Co. NA as redemption agent.