Athene Unveils Complete Redemption of Series C Preferred Stock
Athene Completes Redemption of Series C Preferred Stock
Athene Holding Ltd. has made a significant announcement regarding its 6.375% Fixed-Rate Reset Perpetual Non-Cumulative Preferred Stock, Series C. This decision marks a pivotal moment for the company and its shareholders, as Athene intends to redeem all outstanding shares of this particular preferred stock along with the corresponding depositary shares.
Details of the Redemption
The redemption is set to take effect on an upcoming dividend payment date. Specifically, all 24,000,000 outstanding depositary shares will be redeemed on this date. Following the redemption, no shares related to the Series C Preferred Stock or depositary shares will remain. This decision reflects the company's commitment to managing its capital effectively and ensuring a favorable environment for its investor base.
Redemption Price and Dividend Information
Each depositary share will be redeemed at a price of $25.00, equivalent to $25,000 per share of Series C Preferred Stock. It is essential for investors to note that while this redemption is taking place, a regular quarterly dividend has been declared and will be issued to holders of record before the redemption takes effect. Therefore, the redemption price will not encompass any accrued or unpaid dividends following this date.
How the Redemption Will Be Processed
As part of the redemption process, the outstanding depositary shares will be addressed in accordance with the standard procedures established by The Depository Trust Company (DTC). This ensures a streamlined experience for holders, as payments will be managed by Computershare Inc. and Computershare Trust Company, N.A., the appointed agents for this redemption.
Contacting the Redemption Agent
For any inquiries, investors can reach out to the redemption agent at the following address:
Computershare Trust Company, N.A.
Attn: Corporate Actions
150 Royall St.
Canton, MA 02021.
A Thriving Company: About Athene
Athene continues to solidify its position as a leader in the retirement services sector, boasting over $380 billion in total assets as of the first quarter of the year. With operations across various regions including the United States, Bermuda, Canada, and Japan, the company is dedicated to delivering financial security through a wide range of retirement income and savings products. Athene's innovative solutions also extend to corporate clients, making it a versatile player in the financial market.
Investor Guidance
Current investors holding depositary shares are advised to consult their respective banks or brokers for detailed information regarding the redemption process. This step is crucial to ensure they receive the Redemption Price owed for their shares.
Frequently Asked Questions
What does Athene's announcement mean for shareholders?
This announcement indicates that all outstanding Series C Preferred Stock will be redeemed, offering liquidity to investors.
When is the redemption date for the preferred stock?
The redemption of the Series C Preferred Stock and the depositary shares will occur on the designated dividend payment date.
What is the redemption price for the depositary shares?
The price set for each depositary share is $25.00, corresponding to the Series C Preferred Stock's valuation.
Will there be any dividends declared after the redemption?
No further dividends will be declared following the redemption date.
How can investors contact for more information?
Investors can contact the redemption agent at Computershare Trust Company for further inquiries regarding the redemption process.
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