San Diego Business Journal

SDG&E Announces Redemption of Cumulative Preferred and Preference Stock

Thursday, October 17, 2013

San Diego Gas & Electric announced the redemption of all issued and outstanding shares of SDG&E cumulative preferred stock and preference stock.

The subsidiary of San Diego-based Sempra Energy said the preferred stock is no longer issued and that holders will be entitled to receive the redemption prices (including accrued and accumulated dividends through Oct. 15) without interest.

The cost of the redemption was about $82.6 million, the company said.

Shareholders who have not yet received the applicable redemption price are encouraged to surrender their share certificates and return a completed letter of transmittal to Wells Fargo Bank, which serves as the redemption agent, the company said.

— SDBJ Staff Report