Preference Stock. If the Corporation shall at any time following September 9, 1997 (i) declare any dividend on Common Stock payable in shares of Common Stock, (ii) subdivide the outstanding Common Stock or (iii) combine the outstanding Common Stock into a smaller number of shares, then in each such case the amount to which holders of shares of Series A Junior Preference Stock were entitled immediately prior to such event under clause (b) of the preceding sentence shall be adjusted by multiplying each such amount by a fraction the numerator of which is the number of shares of Common Stock outstanding immediately after such event and the denominator of which is the number of shares of Common Stock that were outstanding immediately prior to such event.
Preference Stock. Section 3.2
Preference Stock. Provision for Division Into and Issue in Series of Preference Stock and Grant of Authority to Board of Directors The shares of the preference stock may be divided into and issued in series. The preference stock is subject to the prior rights and preferences of the preferred stock and the Class A preferred stock and all other classes of stock of equal rank therewith hereafter authorized. Each such series shall be designated so as to distinguish the shares thereof from the shares of all other series and classes, and all shares of the preference stock irrespective of series shall be identical except as to the following rights and preferences in respect of any or all of which there may be variations between different series, and authority is hereby expressly vested in the Board of Directors to establish and designate such series and to determine prior to the issuance of any shares of such series the following rights and preferences of the shares thereof in accordance with the provisions of the Official Code of Georgia Annotated applicable thereto:
Preference Stock. Preference Stock purchasable upon exercise of the Rights will not be redeemable. Each Preference Share will be entitled to a minimum preferential quarterly dividend payment of $1 per share but will be entitled to an aggregate dividend of 100 times the dividend declared per Common Share. In the event of liquidation, the holders of the Preference Stock will be entitled to a minimum preferential liquidation payment of $100 per share but will be entitled to an aggregate payment of 100 times the payment made per Common Share. Each Preference Share will have 100 votes, voting together with the Common Shares. Finally, in the event of any merger, consolidation or other transaction in which Common Shares are exchanged, each Preference Share will be entitled to receive 100 times the amount received per Common Share. These rights are protected by customary antidilution provisions. The value of the one one-hundredth interest in a Preference Share purchasable upon exercise of each Right should, because of the nature of the Preference Stock' dividend, liquidation and voting rights, approximate the value of one Common Share.
Preference Stock. (In millions except shares and per-share amounts) December 31, Shares Outstanding Redemption Price 2015 2014 SCE: Cumulative preferred stock $25 par value: 4.08% Series 650,000 $ 25.50 $ 16 $ 16 4.24% Series 1,200,000 25.80 30 30 4.32% Series 1,653,429 28.75 41 41 4.78% Series 1,296,769 25.80 33 33 Preference Stock No par value: 4.51% Series A (variable and noncumulative) 3,250,000 100.00 – 325 6.50% Series D (cumulative) 1,250,000 100.00 125 125 6.25% Series E (cumulative) 350,000 1,000.00 350 350 5.625% Series F (cumulative)1 190,004 2,500.00 475 475 5.10% Series G (cumulative)2 160,004 2,500.00 400 400 5.75% Series H (cumulative)3 110,004 2,500.00 275 275 5.375% Series J (cumulative)4 130,004 2,500.00 325 – SCE's preferred and preference stock 2,070 2,070 Less issuance costs (50) (48) Edison International's preferred and preference stock of utility $ 2,020 $ 2,022 1The Series F preference shares were issued to SCE Trust I which issued 5.625% trust preference securities (19,000,000 shares at a liquidation amount of $25 per share) to investors. The trust preference securities have the same payment terms as the Series F preference shares. 2The Series G preference shares were issued to SCE Trust II which issued 5.10% trust preference securities (16,000,000 shares at a liquidation amount of $25 per share) to investors. The trust preference securities have the same payment terms as the Series G preference shares. 3The Series H preference shares were issued to SCE Trust III which issued 5.75% trust preference securities (11,000,000 shares at a liquidation amount of $25 per share) to investors. The trust preference securities have the same payment terms as the Series H preference shares. 4The Series J preference shares were issued to SCE Trust IV which issued 5.375% trust preference securities (13,000,000 shares at a liquidation amount of $25 per share) to investors. The trust preference securities have the same payment terms as the Series J preference shares. Five-Year Long-Term Debt Maturities (In millions) December 31, 2016 2017 2018 2019 2020 Edison International $ 295 $ 982 $ 481 $ 81 $ 80 Southern California Edison 79 579 479 79 79 Consolidated Long-Term Debt (In millions) December 31, Series Due Date Interest Rate First Call Date 2015 2014 Southern California Edison Long-term debt: First and refunding mortgage bonds 2004 Series 2004B 01/15/34 6.000% N/A 525 525 2004 Series 2004F 04/01/15 4.650% N/A – 300 2004 Series 2004G 04/01/35 5.750% N/A 350 350 2005...
Preference Stock. After the Distribution Date, each Right will entitle the holder to purchase a Fractional Share of Preference Stock, which will be essentially the economic equivalent of one share of Common Stock.
Preference Stock. 10. The shares of the Preference Stock may be divided into and issued in series. Each series shall be so designated as to distinguish the shares thereof from the shares of all other series of the Preference Stock and all other classes of capital stock of the corporation. To the extent that these Amended and Restated Articles of Incorporation shall not have established series of the Preference Stock and fixed and determined the variations in the relative rights and preferences as between series, the board of directors shall have authority, and is hereby expressly vested with authority, to divide the Preference Stock into series and, within the limitations set forth in these Amended and Restated Articles of Incorporation and such limitations as may be provided by law, to fix and determine the relative rights and preferences of any series of the Preference Stock so established. Such action by the board of directors shall be expressed in a resolution or resolutions adopted by it prior to the issuance of shares of each series, which resolution or resolutions shall also set forth the distinguishing designation of the particular series of the Preference Stock established thereby. Without limiting the generality of the foregoing, authority is hereby expressly vested in the board of directors so to fix and determine with respect to any series of the Preference Stock:
Preference Stock. Stock dividend 124 0.1 (0.1) Issued 35 0.3 Converted (331) (0.3) 331 0.3 Common Stock: Acquired 39 (0.3) Issued 866 0.8 7.9 ------------------------------------------------------------------------------------------------------------------------------------ Balance December 31, 1997 11,623 11.6 2,346 2.3 115,048 115.0 2,057 (60.0) 1,854.0 (707.9) Net income for year 120.1 Dividends on Preferred Stock (40.4)
Preference Stock. Stock dividend 116 0.1 (0.1) Issued 18 0.1 0.1 Converted (305) (0.3) 305 0.3 Common Stock: Acquired 24 (0.3) Issued 16,875 16.9 178.0 Balance December 31, 1998 11,623 11.6 2,175 2.2 132,228 132.2 2,081 (60.3) 1,991.6 (587.8) Net loss for year (183.2) Dividends on Preferred Stock (40.4) Preference Stock: Stock dividend 108 0.1 (0.1) Issued 3 0.1 Converted (276) (0.3) 276 0.3 Common Stock: Acquired 38 (0.3) Issued 1,085 1.1 10.3 Balance December 31, 1999 11,623 $11.6 2,010 $ 2.0 133,589 $133.6 2,119 $(60.6) $ 1,961.5 $(771.0) ------------------------------------------------------------------------------------------------------------------------------------ In all years presented, total non-owner changes in equity was the same as net income or loss. Preferred and Preference Stock issued and outstanding: December 31 (Shares in thousands) 1999 1998 ---------------------------------------------------------------------------- Preferred Stock -Authorized 20,000 shares $5.00 Cumulative Convertible Preferred Stock 2,500 2,500 $2.50 Cumulative Convertible Preferred Stock 4,000 4,000 $3.50 Cumulative Convertible Preferred Stock 5,123 5,123 Preference Stock - Authorized 20,000 shares Series "A" 5% Cumulative Convertible Preference Stock 1,383 1,514 Series "B" 5% Cumulative Convertible Preference Stock 627 661 ---------------------------------------------------------------------------- Each share of $3.50 Cumulative Convertible Preferred Stock issued in 1993 is convertible into 2.39 shares of Common Stock, subject to certain events. Each share of the $5.00 Cumulative Convertible Preferred Stock and the $2.50 Cumulative Convertible Preferred Stock issued in 1983 is convertible into 1.77 and .84 shares of Common Stock, subject to certain events. In accordance with our labor agreements, we issue Preference Stock to a trustee under the Employee Investment Program. Series "A" and Series "B" of Preference Stock have a cumulative dividend of 5% per annum payable at our option in cash, Common Stock or additional shares of Preference Stock. Each share of Preference Stock is entitled to vote with Common Stock on all matters and is convertible into one share of Common Stock. Under the covenants of our 10-3/8% Notes, we can pay future dividends on our Common Stock, among certain other restrictions, only if such cumulative dividends do not exceed the aggregate net cash proceeds from the sale of capital stock plus 50% of our consolidated net income and minus 100% of our consolidated ...
Preference Stock. The Employee acknowledges receipt of a copy of the Plan, which is made a part hereof by this reference.
