Holders of Unisys' Series A 6.25% mandatory convertible preferred stock will receive a dividend of $1.5625 per share. The dividend is payable on June 1 to shareholders of record at the close of business on May 15, the company announced this week.
Each share of Unisys' mandatory convertible preferred stock has a liquidation preference of $100, plus an amount equal to accrued and unpaid dividends, and will automatically convert on March 1, 2014, into between 2.1899 and 2.6717 shares of its common stock. Any time prior to the March 1 deadline, holders may elect to convert all or a portion of their shares of Unisys' preferred stock at the minimum conversion rate of 2.1899 shares of its common stock.
Unisys' Series A preferred stock trades on the NYSE MKT (previously known as the Amex, or American Stock Exchange) under the symbol UIS.PRA.
Unisys is a global IT services specialist.
The article Unisys to Pay Deferred Stock Dividend originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.