Preferred Redeemable Increased Dividend Equity Security

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Preferred Redeemable Increased Dividend Equity Security

A forward contract to buy a certain security and an interest-bearing deposit at a certain time for a certain price. PRIDES operate much like mandatory convertible bonds, but have different structures. PRIDES allow an investor to receive the interest on the deposit at regular intervals and also take advantage of the underlying security when the forward contract matures. Whoever holds the PRIDES at maturity must purchase the underlying security. They were introduced by Merrill Lynch.
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Directors also declared the regular quarterly dividend on the company's Preferred Redeemable Increased Dividend Equity Securities, 7% PRIDES(SM), Convertible Preferred Stock ($1.
NYSE:HLR) (the "Company") has announced that it currently intends to commence, in the future, repurchases of shares of its Class A Common Stock and/or its Preferred Redeemable Increased Dividend Equity Securities ("PRIDES") from time to time.
Directors also declared the regular quarterly dividends on the company's Series D Convertible Preferred stock (81-1/4 cents per share payable July 15, 1996, to holders of record July 1) and on the company's Preferred Redeemable Increased Dividend Equity Securities, 7% PRIDES, Convertible Preferred Stock ($1.
8 million shares of Preferred Redeemable Increased Dividend Equity Securities (PRIDES) Convertible Preferred Stock at $61.
BUSINESS WIRE)--May 26, 1995--United Companies Financial Corporation (NASDAQ:UCFC) announced that it has commenced an offering of 1,500,000 shares of Preferred Redeemable Increased Dividend Equity Securities ("PRIDES"), Convertible Preferred Stock, par value $2.
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