Prospectus excerpt: Interstate Power and Light Company.
6,000,000 shares of 8.375% Series B Cumulative Preferred Stock.
The new preferred shares will rank equally with any other series of our preferred stock with respect to the payment of dividends and distributions of assets. The new preferred shares will rank senior to our common stock with respect to the payment of dividends and distributions of assets.
Dividends on the new preferred shares will accrue and be cumulative from the most recent date on which dividends have been paid on the old preferred shares at an annual rate of 8.375% or $2.09375 per share. The dividends will be payable quarterly on March 15, June 15, September 15 and December 15 of each year, beginning on March 15, 2003, when and as declared by our board of directors.
If we liquidate, dissolve or wind up, then the holders of the new preferred shares at the time outstanding will be entitled to receive $25 per share, plus an amount equal to accrued and unpaid dividends, before any distribution of assets is made to holders of our common stock or any other class of our stock ranking junior to the new preferred shares.
We may not redeem the new preferred shares prior to March 15, 2013. On or after March 15, 2013, we may redeem the new preferred shares, at our option, in whole or in part, upon not less than 45 nor more than 90 days' notice, at a price of $25 per share, plus an amount equal to accrued and unpaid dividends.