Dean Foods says 99.7% of remaining 5½% convertibles converted

New York, June 24 - Dean Foods Co. said 99.7% of its remaining $300 million of 5½% Trust Issued Preferred Equity Securities (Tipes) were converted to stock ahead of the redemption date.

Securities not converted were redeemed on June 23.

The conversion ratio was 1.917 shares per Tipes. Dean Foods stock closed at $30.68 Monday.

The Dallas food and beverage company announced the redemption on May 22, saying it would pay $51.0315 per security.

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