Everbank Financial to launch series A cumulative perpetual preferreds

By Stephanie N. Rotondo

Phoenix, Oct. 12 - Everbank Financial Corp. is planning a sale of series A cumulative perpetual preferred stock, the company said in a prospectus on Friday.

The preferreds will be issued as depositary shares representing a 1/1,000th interest.

Dividends will be payable quarterly, and the preferreds can be redeemed on or after an as-of-yet unspecified date or within 90 days of a regulatory capital treatment event.

The company has applied to list the new securities on the New York Stock Exchange under the ticker symbol "EVERPA."

Proceeds will be used for general corporate purposes, which may include organic growth or the acquisition of complementary businesses or assets.

Everbank is a Jacksonville, Fla.-based diversified financial services company.

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