AmerUs (AMH), a life insurance and annuity products company, said Monday that it will redeem all Series A non-cumulative perpetual preferred stock on Wednesday at a price of $26.03 a share.
To coincide with the redemption payment, preferred dividend of 45.31 cents a share will also be paid on Wednesday, rather than Friday as previously announced, making $26.48 a share as the total redemption price.
The redemption will be funded from the settlement of the forward purchase contracts forming a portion of the company's Income PRIDES which matured on Aug. 16 as well as other equity issuances occurring in the six month period prior to redemption.
The company received $143.75 million upon maturity of the portfolio of U.S. Treasury securities pledged as collateral by holders of the Income PRIDES to secure their obligation to purchase shares of common stock of the company on Aug. 16.
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