Kimco Realty redeems all 6% class I, 5.625% class K preferred stock

By Sarah Lizee

Olympia, Wash., Sept. 16 – Kimco Realty Corp. redeemed all 7,000 shares of its issued and outstanding 6% class I cumulative redeemable preferred stock and all 7 million depositary shares representing the class I preferred stock, representing a liquidation preference of $175 million.

The company also redeemed all 7,000 shares of its issued and outstanding 5.625% class K cumulative redeemable preferred stock and all 7 million depositary shares representing the class K preferred stock, representing a liquidation preference of $175 million.

The class I preferred stock was redeemed at a redemption price of $25,000 per share, plus $245.833 in accrued dividends on each share, and the class I depositary shares were redeemed at a redemption price of $25.00 per depositary share, plus $0.24583 in accrued dividends on each share.

The class K preferred stock was redeemed at a redemption price of $25,000 per share, plus $230.468 in accrued dividends on each share, and the class K depositary shares were redeemed at a redemption price of $25.00 per depositary share, plus $0.23047 in accrued dividends on each share.

Kimco is a New Hyde Park, N.Y., real estate investment trust that owns and operates neighborhood and community shopping centers.

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