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Article: GATX Corporation to Redeem Outstanding $3.875 Cumulative Convertible Preferred Stock
- Article from:
- PR Newswire
- Article date:
- May 16, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHICAGO, May 16 /PRNewswire/ -- GATX Corporation (NYSE: GMT) today announced that it has called for redemption all of the outstanding shares of its $3.875 Cumulative Convertible Preferred Stock ("Convertible Preferred Stock" -- NYSE: GMTA).
All of the outstanding shares of the Convertible Preferred Stock will be redeemed on June 16, 1997. The Convertible Preferred Stock will be redeemed for $51.1625 per share plus accrued dividends from May 1, 1997, through the Redemption Date of $0.4951 per share, for a total Redemption Price of $51.6576 per share.
Each share of Convertible Preferred Stock can be converted into 1.1494 shares of GATX common stock ...