Toledo’s Health Care REIT said Wednesday that it will call two classes of its redeemable preferred stock on April 2.
The real estate investment trust said the stock, which combined totals 10 million shares, will be redeemed at a price of $25 a share, plus any accrued or unpaid dividends through April 2. The redemption price will not include quarterly dividends Health Care REIT plans to pay on April 16 to shareholders of its redeemable preferred stock.
Redeemable preferred stock, also known as callable stock, refers to shares that a company issues while keeping the right to recall those shares after a specific date and at a certain price. Once recalled, the stock is retired.