Kansas City Southern to convert series D preferreds to common stock

By Melissa Kory

Cleveland, March 1 - Kansas City Southern announced that its 5.125% series D cumulative convertible perpetual preferred stock will be converted into common stock on March 10.

As of March 1, $194,848,000 liquidation preference of the preferred shares was outstanding.

As of Feb. 28, the closing sale price of the common stock multiplied by the conversion rate of 33.3333 shares had equaled or exceeded 130% of the liquidation preference of $1,000 for at least 20 trading days in a 30 trading day period. The company had also paid all accumulated dividends on the dividend payment date immediately preceding the conversion date.

Based in Kansas City, Mo., Kansas City Southern is a transportation holding company.

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