General Cable increase conversion rate of its 5.75% series A redeemable preferred stock to 5.056 shares

HIGHLAND HEIGHTS, Ky.--(BUSINESS WIRE)--General Cable Corporation (NYSE: BGC) (the "Company") announces in accordance with the terms of the Company's 5.75% Series A Redeemable Preferred Stock ("Preferred Stock"), an increase to the conversion rate of the Preferred Stock from 4.998 to 5.056 shares of common stock.

As a result of the cash dividend of $0.18 per share paid on each of June 28, 2013 and September 6, 2013, on the common stock of the Company, the conversion price for the Preferred Stock is adjusted from $10.004 to $9.889 per share of Preferred Stock. The corresponding conversion rate is 5.056.

The adjusted conversion price was determined after each dividend, pursuant to the Certificate of Designations of the Preferred Stock, by multiplying the then conversion price by a fraction, the numerator of which is the average closing sales price per share of the Company's common stock as reported on the NYSE for a period of five consecutive trading days after the common stock traded after each dividend (the "Average Sale Price") and the denominator of which is the Average Sale Price plus the amount of the dividend per share of the Company's common stock.

General Cable Corporation (NYSE:BGC), a Fortune 500 Company, is a global leader in the development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products and systems for the energy, industrial, specialty, construction and communications markets. Visit our website at You are not allowed to view links. Register or Login.

2013/09/27 08:32:39 Source：BUSINESS WIRE

You are not allowed to view links. Register or Login