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AltaGas Ltd. Announces Results of Series A And Series B Preferred Share Conversions
AltaGas Ltd. Announces Results of Series A And Series B Preferred Share Conversions ...
About this update from Altagas Ltd.
[{"type":"text","content":"AltaGas-Share-Reults\n \n \n \n AltaGas Ltd. Announces Results of Series A And Series B Preferred Share Conversions\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n CALGARY, AB, Sept. 30, 2020\n \n \n \n \n \n CALGARY, AB\n \n ,\n \n Sept. 30, 2020\n \n /CNW/ - AltaGas Ltd. (\"AltaGas\") (TSX: ALA) announced today that 35,180 of its 8,000,000 Cumulative Redeemable Five-Year Fixed Rate Reset Preferred Shares, Series A (the \"Series A Preferred Shares\") (TSX: ALA.PR.A) were tendered for conversion into Cumulative Floating Rate Preferred Shares, Series B (the \"Series B Preferred Shares\") (TSX: ALA.PR.B) and that 1,270,639 of its Series B Preferred Shares were tendered for conversion into Series A Preferred Shares. As a result of the conversions AltaGas has 5,511,220 Series A Preferred Shares and 2,488,780 Series B Preferred Shares issued and outstanding.\n \n \n The Series A Preferred Shares will continue to pay on a quarterly basis, for the five-year period beginning on\n \n September 30, 2020\n \n , as and when declared by the Board of Directors of AltaGas, a fixed dividend based on an annual fixed dividend rate of 3.060 percent. The Series A Preferred Shares will continue to be listed on the Toronto Stock Exchange (TSX) under the symbol ALA.PR.A.\n \n \n The Series B Preferred Shares will pay a floating quarterly dividend for the five-year period beginning on\n \n September 30, 2020\n \n , as and when declared by the Board of Directors of AltaGas. The floating quarterly dividend rate for the Series B Preferred Shares for the quarterly floating rate period (being the period from\n \n September 30, 2020\n \n to but excluding,\n \n December 31, 2020\n \n ) is 2.809 percent and will be reset every quarter. The Series B Preferred Shares will continue to be listed the TSX under the symbol ALA.PR.B.\n \n \n For more information on the terms of, and risks associated with an investment in, the Series A Preferred Shares and the Series B Preferred Shares, please see the prospectus supplement dated\n \n August 11, 2010\n \n which is availab...