PS Business Parks calls entirety of 7.95% cumulative preferred stock

By Jennifer Chiou

New York, May 6 - PS Business Parks Inc. announced the June 7 redemption of all of the depositary shares representing interests in its 7.95% cumulative preferred stock, series K.

Holders will receive $25 per share plus accrued dividends from April 1 through June 7.

PS Business Parks said that the total redemption amount, before accrued dividends, will be $54,125,000.

The company is based in Glendale, Calif., and owns business park properties in Virginia, Maryland, Texas, California and Oregon.

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