Duke Realty to redeem all 597,579 6.5% series K preferreds on Dec. 24

By Tali Rackner

Norfolk, Va., Nov. 24 – Duke Realty Corp. called all 597,579 of its outstanding 6.5% series K cumulative redeemable preferred shares, par value $.01 per share, and all of the 5,975,789 depositary shares representing the preferreds, according to a press release.

The series K preferreds will be redeemed on Dec. 24 at $250 per share, which is equivalent to a cash redemption price of $25 per series K depositary share, the company said. Holders of the depositary shares will receive $0.108333 per share in dividends, for a total redemption price of $25.108333 per series K 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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