CMS Energy unit exercises right to redeem all $4.16 preferred stock

By Tali David

Minneapolis, May 29 - CMS Energy Corp.'s utility unit, Consumers Energy Co., is exercising its right to redeem all $6.8 million of its $4.16 preferred stock, according to a press release.

On July 1, holders of the preferreds will be entitled to receive $103.25 per share plus accrued dividends.

The outstanding share count of the $4.16 preferred stock is currently at a level below the minimum required for listing on the New York Stock Exchange, the release said.

CMS Energy is a Jackson, Mich.-based energy company.

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