Cinergy (NYSE:CIN)
Historical Stock Chart
From Jul 2019 to Jul 2024
![Click Here for more Cinergy Charts. Click Here for more Cinergy Charts.](/p.php?pid=staticchart&s=NY%5ECIN&p=8&t=15)
PSI Energy, Inc., a subsidiary of Cinergy Corp.
(NYSE:CIN), announced today that it will redeem on May 1, 2006, all
shares of its 3-1/2 percent cumulative preferred stock at a price of
$100 per share, its 4.32 percent cumulative preferred stock at a price
of $25 per share and its 4.16 percent cumulative preferred stock at a
price of $25 per share, and pay all accrued and unpaid dividends for
each series up to the May 1 redemption date.
Accrued and unpaid dividends will be paid through the redemption
date at the rate of $.5833 per share for the 3-1/2% series, $.1800 per
share for the 4.32% series and $.1733 per share for the 4.16% series.
Payment of the redemption prices and accrued and unpaid dividends will
be made to each tendering shareholder on or after the redemption date
as soon as practicable after delivery and surrender of certificates.
On and after the redemption date, all holders of cumulative
preferred stock shall cease to be shareholders, all dividends on the
shares of each series will cease to accrue and all rights with respect
to such shares will cease, except the right to receive the redemption
price and unpaid and accrued dividends up to the redemption date, upon
surrender of the certificates for the shares.
Amounts sufficient to redeem all outstanding shares of the
preferred stocks, together with accrued and unpaid dividends, will be
deposited with National City Bank, the redemption agent, on or before
May 1, 2006, for payment to the holders upon delivery of the
certificates. Delivery and surrender of the certificates for the three
series of preferred stock may be made by "hand delivery" to National
City Bank, Shareholder Service Operations, 4100 West 150th Street,
Third Floor - North Annex, Cleveland, Ohio 44135-1385, or by mail to
National City Bank, Shareholder Service Operations, P.O. Box 94720,
Cleveland, Ohio 44101-4720.
Cinergy Corp. has a balanced, integrated portfolio consisting of
two core businesses: regulated operations and commercial businesses.
Cinergy's regulated public utilities in Ohio, Indiana, and Kentucky
serve 1.5 million electric customers and about 500,000 gas customers.
In addition, its regulated operations own 8,100 megawatts of
generation. Cinergy's competitive commercial businesses have 5,200
megawatts of generating capacity with a profitable balance of stable
existing customer portfolios, new customer origination, marketing and
trading, and industrial-site cogeneration. Cinergy's integrated
businesses make it a Midwest leader in providing both low-cost
generation and reliable electric and gas service.