New York-based Piedmont Management also declared a dividend of 50 cents a share on its cumulative preferred stock, and said it plans to spin off its Lexington Global Asset Managers Inc . unit.
22.
Under the agreement, shareholders of Burlington, Vermont-based Bruegger's would receive about 5.14 million common shares of Quality Dining and up to 141, 450 shares of its Series A cumulative preferred stock to holders of similar Bruegger's stock.
23.
The transaction is similar to AIG's 1994 move to buttress 20th Century Insurance Co ., then the fifth-largest auto insurer in California, by purchasing $ 200 million in cumulative preferred stock issued by the company, Lewinsohn said.
24.
Bowater also said it began an offer to buy back its outstanding depositary shares, each representing a 1 / 4-share interest in its 8.4 percent Series C cumulative preferred stock, which has a face value of $ 85 million.
25.
Under the agreement, shareholders of Burlington, Vermont-based Bruegger's would receive about 5 . 14 million common shares of Quality Dining and up to 141, 450 shares of its Series A cumulative preferred stock to holders of similar Bruegger's stock.
26.
Texaco Inc ., White Plains, N . Y ., has completed a common stock repurchase program, in which it bought back 6.1 million shares on the open market in order to redeem all its series E variable-rate cumulative preferred stock.
27.
Bowater also said it began an offer to buy back its outstanding depositary shares, each representing a 1 / 4-share interest in its 8 . 4 percent Series C cumulative preferred stock, which has a face value of $ 85 million.
28.
Texaco Inc ., White Plains, N . Y ., has completed a common stock repurchase program, in which it bought back 6 . 1 million shares on the open market in order to redeem all its series E variable-rate cumulative preferred stock.
29.
The amount of these instruments, together with other cumulative preferred stock a bank holding company may include in Tier 1 capital, may constitute up to 25 percent of the sum of all core capital elements, including cumulative perpetual preferred stock and trust preferred stock.
