variable-rate preferred stock

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Variable-Rate Preferred Stock

A preferred stock paying a dividend that varies from time to time. Usually, the dividend rate is based on an index or on the interest rate on a Treasury security. They may also be backed by mortgages or mortgage-backed securities.

variable-rate preferred stock

References in periodicals archive ?
Securities Act of 1933, as amended) an aggregate of $1 billion of non-cumulative, perpetual, variable rate preferred stock.
Virginia Electric and Power Company, a wholly owned subsidiary of Dominion (NYSE: D), announced today that it will redeem all outstanding shares of its variable rate preferred stock.
74667 on its May 2001 variable rate preferred stock and $1.
The proceeds of the common stock offering and the note offering, together with additional bank borrowings of approximately $11 milli will be used to purchase approximately 94 percent of the company's Senior Deferred Coupon Debentures due 2002, to redeem at least 93 percent of the company's outstanding Cumulative Exchangeable Variable Rate Preferred Stock and to redeem all of Levitz's 12 7/8 percent subordinated notes due 1997.
The net proceeds to LFI from the sale of the common stock will be used to fund a tender offer to purchase all of LFI's outstanding Senior Deferred Coupon Debentures due 2002 and to redeem all shares of LFI's Cumulative Exchangeable Variable Rate Preferred Stock.

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