SunTrust Banks Variable Rate (4% Min) Perpetual Preferred Stock
By: Tim McPartland,
ORIGINALLY CUMULATIVE – NOW NON CUMULATIVE
S&P Rating BB+ Moodys Rating Baa3
Security Ticker Symbol STI-A
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Market Traded ON NYSE
Dividend Payment Paid on the 15th of March, June, September and December beginning on 12/15/2006
Quarterly Dividend .250 Annual Dividend 1.00
Dividends will float at a rate of 3 month Libor plus .53% or a minimum of 4%
Securities may be redeemed, at the issuers option, as early as 09/15/2011 for a redemption price of $25/share plus accrued dividends
Dividend Payment Likely Will be a Qualified Distributions
Maturity Date None
Company Investor Relations Page for SunTrust Bank
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Below you can find the offering Prospectus and Final Pricing Document
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Tim McPartland
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Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
