|Day's Range||75.70 - 76.45|
|52 Week Range||73.24 - 85.45|
|PE Ratio (TTM)||37.87|
|Earnings Date||Aug 2, 2017|
|Dividend & Yield||5.28 (6.96%)|
|1y Target Est||93.19|
MIC announced an adjustment to the conversion ratio applicable to its 2.875% Convertible Senior Notes due 2019. The conversion ratio for the Notes increased to 12.2946 shares of common stock per $1,000 principal amount effective July 15, 2017.
MIC has scheduled a conference call and webcast for analysts and investors at 8:00 a.m. Eastern Time on Thursday, August 3, 2017 during which management will discuss the Company’s financial results for the second quarter of 2017.
The redemption date for the Notes will be August 1, 2017 (the "Redemption Date"), and the record date will be one Business Day prior to the Redemption Date. The redemption price is 102.375% of the principal amount of the Notes, plus accrued and unpaid interest and Additional Amounts, if any, to, but not including, the Redemption Date. Accordingly, the aggregate redemption amount for the Notes is expected to be $352,743,063.40 which comprises (i) 102.375% of the principal amount of $341,524,000, amounting to $349,635,195, plus (ii) accrued and unpaid interest and Additional Amounts, if any, to, but not including, the Redemption Date occurring on August 1, 2017, amounting to $3,107,868.40 (collectively, the "Redemption Amount").