Urstadt Biddle Properties to redeem 7.5% preferreds in full on Nov. 21

By Angela McDaniels

Tacoma, Wash., Oct. 22 – Urstadt Biddle Properties Inc. will redeem its $61.25 million of outstanding 7.5% series D senior cumulative preferred stock on Nov. 21, according to a company news release.

The 2.45 million outstanding preferreds will be redeemed at a redemption price of $25.00 each plus $0.109375 of accrued dividends.

The company previously declared a regular quarterly dividend on the preferreds of $0.46875 per share payable on Oct. 31 to stockholders of record on Oct. 17.

Urstadt Biddle is a Greenwich, Conn.-based equity real estate investment trust.

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