NI-B NiSource, Inc ADRs 6.50% Series B and Series B-1 Preferred Stock
Dividends accrue and are cumulative and if declared by the Board, dividends will be paid quarterly in arrears on the 15th day of March, June, September and December. The initial dividend rate from and including the date of original issue to, but not including, March 15, 2024 is 6.50% per annum. On and after March 15, 2024, dividends will accumulate for each Reset Period at a rate equal to the Five-year U.S. Treasury Rate (as defined in the Certificate of Designations) plus (i) in respect of each Reset Period commencing on or after March 15, 2024 but before March 15, 2044, a spread of 3.632% (the “Initial Margin”), and (ii) in respect of each Reset Period commencing on or after March 15, 2044, the Initial Margin plus 1.000%. The Series B Preferred Stock does not have a stated maturity and is not subject to mandatory redemption or any sinking fund. The Series B Preferred Stock will remain outstanding indefinitely unless repurchased or redeemed by the Company. The Series B Preferred Stock may be redeemed by the Company at its option, in whole or in part on March 15, 2024, or on any date falling on the fifth anniversary thereafter at a redemption price equal to $25,000 per share (equivalent to $25 per Depositary Share), or in whole but not in part within 120 days following a Ratings Event (as defined herein) at a redemption price equal to $25,500 per share (102% of the liquidation preference of $25,000 per share and equivalent to $25.50 per Depositary Share), plus in each case an amount equal to all accumulated and unpaid dividends thereon to, but not including, the date fixed for redemption, whether or not declared. This security was issued by Nisource Inc, whose common stock symbol is NI.
$23.89 -0.07 (-0.29%)
As of 03/27/2023 13:47:47 EST IEX book CBOE book
Security Information
Category1: US Equity
Category2: Preferred stocks
Category3: Non-convertible
GICS sector: Utilities
Industry: Utilities—Regulated Gas
Index country: USA
Country of incorporation: USA
IPO date: 01/04/2019
Outstanding shares: 20,000,000
Average volume: 108,818
Market cap: $476,000,000
Current dividend yield: 6.83% calculation
Initial coupon rate: 6.500%
Cumulative: Yes
Liquidation value: $25.00
Callable after: 03/15/2024
Maturity date: n/a - perpetual
Prospectus: Read on SEC.gov
All SEC filings: SEC Edgar Online
Quarterly filings: 10-Q
Annual filings: 10-K
Sedol: BGYJZ76