PRNewsWire
07 Aug 2026, 11:45 UTC · 2h ago
SoCalGas Board of Directors Approves Retirement of All Outstanding Shares of Preferred Stock
NewsImpactScreener rates every claim in this story for market impact and maps it to the tickers most exposed.
PRNewsWire
07 Aug 2026, 11:45 UTC · 2h ago
NewsImpactScreener rates every claim in this story for market impact and maps it to the tickers most exposed.
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SoCalGas will retire all outstanding shares of its 6% Preferred Stock and Series A Preferred Stock for a cash payment of approximately $31.14 per share. — The retirement payment represents a premium over the $25 par value, providing immediate liquidity and a capital gain for preferred shareholders.
+0.60SoCalGas will voluntarily withdraw its Preferred Stock (SOCGM) and Series A Preferred Stock (SOCGP) from the OTCQB market after August 13, 2026. — This removes the securities from public trading, finalizing the transition from equity-like instruments to a cash payout.
+0.30The retirement of preferred shares is intended to simplify the company's capital structure as part of a business modernization effort. — Simplifying capital structure is generally viewed as a neutral-to-positive operational move, though it has less direct price impact than the cash payout.
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Preferred shareholders will receive a cash payment of $31.135616 per share, which is a premium over the $25 par value.
Preferred shareholders will receive a cash payment of $31.135616 per share, which is a premium over the $25 par value.
The company's subsidiary is simplifying its capital structure and delivering immediate value to shareholders.
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