Saul Centers, Inc. Announces Redemption of 60% of its 8% Series A
Cumulative Redeemable Preferred Stock Represented by 2,400,000
Depositary Shares
BETHESDA, Md., Jan. 31, 2013 /PRNewswire/ -- Saul Centers,
Inc. (NYSE: BFS) (the "Company") today called for redemption of 60%
of the outstanding shares of its 8% Series A Cumulative Redeemable
Preferred Stock represented by 2,400,000 depositary shares, each
representing 1/100th of a Series A Preferred Share (the
"Depositary Shares", CUSIP: 804395200; NYSE: BFSPrA). The
Depositary Shares will be redeemed on March
2, 2013 at $25.00 per share,
plus all accumulated and unpaid distributions through the
redemption date, for an aggregate redemption price of $25.3389 per share. The Depositary Shares will be
redeemed, as to registered holders, on a pro rata basis, as nearly
as practicable.
The redemptions will be made in accordance with The Depositary
Trust Company's procedures. The Depositary Shares shall be
surrendered for payment of the redemption price to Continental
Stock Transfer & Trust Company, the redemption and paying
agent. After the redemption date, dividends will cease to accrue on
the Depositary Shares that were redeemed, regardless of whether
they were surrendered for payment.
Saul Centers is a self-managed,
self-administered equity real estate investment trust headquartered
in Bethesda, Maryland.
Saul Centers currently operates and
manages a real estate portfolio of 59 community and neighborhood
shopping center and mixed-use properties totaling approximately 9.5
million square feet of leasable area. Over 85% of the
Company's cash flow is generated from properties in the
metropolitan Washington,
DC/Baltimore, MD area.
SOURCE Saul Centers, Inc.