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  • roderickb99 roderickb99 Sep 24, 2008 2:45 PM Flag

    Recommened in Forbes/Lehman Letter as High Risk Investment

    DRA CRT Acquisition Corp., 8.50% Series A Cumul Redeem Preferred Stock

    Ticker Symbol: DCAQP CUSIP: 23330C205 Exchange: OTOTC
    Security Type: Traditional Preferred Stock
    SECURITY DESCRIPTION: DRA CRT Acquisition Corp., formerly CRT Properties Inc., formerly Koger Equity Inc., 8 1/2% Series A Cumulative Redeemable Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 9/10/2008 at $25 per share plus accrued and unpaid dividends, with no stated maturity, and with distributions of 8 1/2% ($2.125) per annum paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the first calendar day of the motnh in which the payment is due or on the date fixed by the board, not more than 50 days or less than 10 days prior to the payment date. Dividends paid by preferreds issued by REITs are NOT eligible for the 15% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. In regards to payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
    Exchange Cpn Rate
    Ann Amt LiqPref
    CallPrice Call Date
    Matur Date Moodys/S&P
    Dated Distribution Dates 15%
    Tax Rate
    Chart 8.50%
    $2.125 $25.00
    $25.00 9/10/2008
    None NF / NF
    3/27/08 3/15, 6/15, 9/15 & 12/15
    Click for Ex-Div Date No