Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sunday, May 10, 12:43 PM
| This Slide: #217 of 665 |
Slide #217. Stifel Financial Corp. — Preferred Stock Offering
| Company: | Stifel Financial Corp. (NYSE:SF) |
| Date announced: | 2/21/2019 |
| Shares Offered: | 6,000,000 |
| Date of Pricing: | 2/21/2019 |
| Price Per Share: | $25.00 |
| Preferred Stock Offering Details: | Stifel Financial Corp. (NYSE: SF) today announced it has priced an underwritten registered public offering of 6,000,000 depositary shares ($150 million of aggregate public offering price), each representing a 1/1000th interest in a share of perpetual 6.25% Non-Cumulative Perpetual Preferred Stock, Series B, $1.00 par value, with a liquidation preference of $25,000 per share (equivalent to $25 liquidation preference per depositary share). When, as, and if declared by the board of directors of the Company, dividends will be payable at an annual rate of 6.25%, payable quarterly, in arrears. The Company may redeem the Series B preferred stock at its option, subject to regulatory approval, on or after March 15, 2024 or following a regulatory capital treatment event as described in the prospectus supplement and accompanying prospectus relating to the offering. The Series B preferred stock will rank equally with the Company's outstanding perpetual 6.25% Non-Cumulative Preferred Stock, Series A with respect to the payment of dividends and the distribution of assets upon voluntary or involuntary liquidation, dissolution or winding up of the Company's affairs. |
Stifel Financial Corp. is a financial holding company with its main subsidiary, Stifel, Nicolaus & Company, Incorporated, offering full-service retail and institutional wealth management and investment banking. It operates through segments like Global Wealth Management and Institutional Group. The Global Wealth Management segment includes the Private Client Group, which provides securities brokerage services and banking products through its subsidiaries, and Stifel Bancorp. The Institutional Group handles institutional sales and trading. The Other segment covers interest income from stock borrow activities, unallocated interest expense, and gains and losses from investments.
Preferreds: SF.PRA, SF.PRB, SF.PRC, SF.PRD
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