NEW YORK, March 19, 2013 (GLOBE NEWSWIRE) -- Lexington Realty Trust (NYSE:LXP) today announced that it intends to redeem all of the outstanding 6,200,000 shares of its 7.55% Series D Cumulative Redeemable Preferred Stock (NYSE:LXPPRD) on April 19, 2013 (the "Redemption Date"). Shares of 7.55% Series D Cumulative Redeemable Preferred Stock will be redeemed at a redemption price of $25.00 per share, plus accumulated and unpaid dividends up to and including the Redemption Date in the amount of $0.099618 per share, for a total redemption cost of $155,617,631.60. On or after the Redemption Date, after which dividends will cease to accrue, the only remaining rights of holders of shares of 7.55% Series D Cumulative Redeemable Preferred Stock will be to receive payment of the redemption price, plus accumulated and unpaid dividends up to and including the Redemption Date.
The notice of redemption and other materials relating to the redemption of shares of 7.55% Series D Cumulative Redeemable Preferred Stock will be mailed to holders of such shares on or about March 20, 2013. As will be specified in the notice of redemption, payment of the redemption price will be made only upon presentation and surrender of the certificates representing 7.55% Series D Cumulative Redeemable Preferred Stock to the redemption agent, Computershare Trust Company, N.A. If delivered by mail, certificates should be sent to 250 Royall Street, Canton, MA 02021, Attn: Corporate Actions. Questions relating to the notice of redemption of the 7.55% Series D Cumulative Redeemable Preferred Stock should be directed to Computershare Trust Company, N.A. at (800) 777-3674.
Lexington also declared a cash dividend of $0.8125 per share of Series C Cumulative Convertible Preferred Stock ("Series C Preferred Share"). The Series C Preferred Share dividend is payable on or about August 15, 2013, to shareholders of record of the Series C Preferred Shares as of July 31, 2013.
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