Dominion Energy to redeem all series A convertible preferred shares

By Wendy Van Sickle

Columbus, Ohio, July 27 – Dominion Energy Inc. said it will redeem for cash all of its series A cumulative perpetual convertible preferred stock (Cusips: 25746U810 and 25746UDN6) on Sept. 1 at a price of $1,000 per share, according to a company news release.

The regular quarterly dividend of $4.375 a share will be paid separately on the redemption date.

The shares may be converted by holders any time prior to the close of business on Aug. 31.

The amount of cash per share to be paid to any converting holder will be determined based on the conversion rate of the shares and the daily volume weighted average price of Dominion Energy's common stock during a 20 consecutive trading-day period beginning on, and including, the 21st scheduled trading day immediately preceding the redemption date.

The current conversion rate is 11.2842 shares of common stock per share of series A preferred stock. Any conversion of shares will settle on Sept. 1.

Broadridge Corporate Issuer Solutions, Inc. is the paying and conversion agent.

Dominion Energy is a Richmond, Va.-based electric and natural gas energy company.

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