XOMA Royalty said its board approved quarterly cash dividends on both classes of perpetual preferred stock and set a July 14 redemption date for all outstanding preferred shares.
Holders of the 8.625% Series A preferred stock, with 984,000 shares outstanding, will receive $0.53906 per share. Holders of the 8.375% Series B preferred stock, represented by 1,760,500 depositary shares, will receive $0.52344 per depositary share. The dividends will be paid on or about July 15 to holders of record at the close of business on July 2.
At the same time, the company said it will redeem all outstanding preferred stock on July 14 at $25.00 per share for Series A and $25.00 per depositary share for Series B. Based on the reported share counts, the redemption covers about 984,000 Series A shares and 1,760,500 Series B depositary shares.
XOMA also set July 13 at 5:00 p.m. Eastern as the record date for contingent value rights tied to the pending merger. Each holder of common stock on that date will receive one CVR per share as additional merger consideration at the merger’s effective time. Following these announcements, the company's shares moved -0.02%, and are now trading at a price of $41.79. For more information, read the company's full 8-K submission here.
