Polaroid redeems $22.3 million preferreds

New York, April 14 - Polaroid Holding Co. said it redeemed $22.3 million or 50% of its $44.6 million outstanding series A 8% cumulative compounding preferred stock.

The securities were redeemed at a price of $100.00 per share. Dividends on all the outstanding shares were paid on April 14.

Polaroid Holding plans to redeem the remaining preferreds this year, the Waltham, Mass., instant and digital imaging company said in a 10-K filing with the Securities and Exchange Commission.

The preferreds were issued in 2002 when Polaroid Holding purchased the assets of the former Polaroid Corp. out of bankruptcy.

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