Duke Realty to redeem all 6.6% series L preferreds in December

By Tali Rackner

Norfolk, Va., Nov. 14 – Duke Realty Corp. called all 733,597 outstanding 6.6% series L cumulative redeemable preferred shares and all of the 7,335,968 depositary shares representing the preferreds for redemption on Dec. 15, according to a press release.

The series L preferreds will be redeemed at $250 per share, which is equivalent to a cash redemption price of $25 per series L depositary share, the company said.

Holders of the depositary shares will receive $0.06875 in dividends, for a total redemption price of $25.06875 per series L depositary share.

American Stock Transfer and Trust Co., LLC (800 937-5449) is the redemption agent.

Duke Realty is an Indianapolis-based real estate investment trust that owns and operates industrial and office space.

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