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National Retail Properties, Inc. Announces Redemption Of All Outstanding Depositary Shares Representing Interests In Its 5.200% Series F Cumulative Redeemable Preferred Stock
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ORLANDO, Fla., Sept. 16, 2021 /PRNewswire/ -- National Retail Properties, Inc. (NYSE: NNN) (the Company") today called for redemption of all outstanding shares of its 5.200% Series F Cumulative Redeemable Preferred Stock (the "Series F Preferred Shares") represented by depositary shares, each representing a 1/100th interest in a Series F Preferred Share (the "Depositary Shares," CUSIP: 637417874; NYSE: NNNPRF). The Depositary Shares will be redeemed on October 16, 2021 at $25.00 per Depositary Share, plus all accrued and unpaid dividends up to (but not including) the redemption date, for an aggregate redemption price of $25.111944 per Depositary Share. On the redemption date, dividends on the Depositary Shares representing interests in Series F Preferred Shares will cease to accrue.
The redemptions will be made in accordance with The Depositary Trust Company's procedures. The Depositary Shares shall be surrendered for payment of the redemption price to American Stock Transfer and Trust Company, LLC the redemption and paying agent.
National Retail Properties, Inc. invests primarily in high-quality retail properties subject generally to long-term, net leases. As of June 30, 2021, the Company owned 3,173 properties in 48 states with an aggregate gross leasable area of approximately 32.7 million square feet and with a weighted average remaining lease term of 10.6 years.
national retail properties (nyse: nnn), a real estate investment trust, invests in single-tenant retail properties generally subject to long-term, net leases. the company was formed in 1984 and began trading on the new york stock exchange in 1994. as one of only 96 out of the more than 10,000 publicly-traded companies that have increased annual dividends for 27 or more consecutive years, we are a powerful partner for our retail customers and a proven investment for our shareholders. the average annual total return to shareholders has been 15.7% over the past 25 years. we own a diversified portfolio of 2,293 freestanding retail properties in 47 states with a total gross leasable area of approximately 25.4 million square feet. these properties are leased to more than 400 tenants in 38 industry classifications.
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