Equity Residential (EQR) announced on Friday a call for redemption on all outstanding Series N Depositary Shares. The Series N Depositary Shares will render a redemption price of $25.00 per share, plus $0.1575 per share accrued and unpaid dividends, according to the announcement.
At the close of business on Thursday, there were 6,000,000 Series N Depositary Shares outstanding. The liquid value of those shares was approximately $150 million, but form the redemption date forward, the shares will no longer accrue dividends. Notice of the redemption and all related info has been mailed to share holders can redeemed in accordance with the applicable procedures.
For any questions related to the notice, direct your attention to Computershare Inc., Equity Residential’s transfer agent. The number is: 1-800-546-5141, and their mailing address is: Paying Agent is Computershare, Corporate Actions, P.O. Box 43014, Providence, RI 02940-3014.
For any other information on Equity Residential, please visit their website at www.equityapartments.com.