Author: Newsdesk

ATLANTA,, Nov. 19, 2020 /PRNewswire/ — Preferred Apartment Communities, Inc. (NYSE: APTS) (“PAC” or the “Company”) today announced that it intends to redeem 208,786 shares (the “Called Shares”) of its 6.00% Series A Redeemable Preferred Stock (the “Series A Preferred Stock”), representing approximately 11% of the total outstanding shares of Series A Preferred Stock, on November 24, 2020 (the “Redemption Date”).  The Called Shares represent approximately 80% of all Series A Preferred Stock currently available to call at the Company’s option.  The shares of Series A Preferred Stock will be redeemed at their initial stated value of $1,000 per share, plus accrued and unpaid dividends up to, and including, the Redemption Date in an amount equal to $4.00 per share, for total proceeds of $1,004.00 per share (the “Redemption Price”).  Payment of the Redemption Price will be made in cash.

“The recently completed sale of our student housing assets has allowed us to harvest capital to simplify our focus to our core suburban Sunbelt multifamily business and realign our balance sheet. The successful passage of the two proposals at our Special Stockholders Meeting today has not only enhanced our corporate governance, but also allows us to better manage our balance sheet and cost structure. This redemption of approximately $208.8 million of our 6% Series A Preferred Stock is consistent with these objectives. The remaining net proceeds from the student housing sale could be used for additional investments in our core Sunbelt multifamily business through acquisitions or mezzanine investment loans and for other general business purposes, which may include redeeming additional preferred stock,” stated Joel T. Murphy, Preferred Apartment Communities’ President and Chief Executive Officer.

On November 20, 2020, the Company will pay the cash dividend on the Series A Preferred Stock of $5.00 for the period from October 1, 2020 to October 31, 2020 to each holder of record on October 31, 2020. Such payment will be separate and distinct from the payment of the Redemption Price on the Redemption Date.

Dividends on the shares of Series A Preferred Stock that are to be redeemed will cease to accrue on the Redemption Date.  Upon redemption, the redeemed shares of Series A Preferred Stock will no longer be outstanding, and all rights of the holders of such shares will terminate, except the right of the holders to receive the cash payable upon such redemption, without interest.

As specified in the notice of redemption, shares of Series A Preferred Stock held in book-entry form through the Depository Trust Company (“DTC”) will be redeemed according to DTC’s procedures and shares of Series A Preferred Stock held through the records of Computershare Trust Company, N.A. (the “Redemption Agent”) will be automatically redeemed by the Redemption Agent.

The address for the Redemption Agent is as follows:

Computershare Trust Company, N.A.
150 Royall Street
Canton, MA 02021
Attn: Corporate Actions
Telephone: (800) 546-5141

About Preferred Apartment Communities, Inc.

Preferred Apartment Communities, Inc. (NYSE: APTS) is a real estate investment trust engaged primarily in the ownership and operation of Class A multifamily properties, with select investments in grocery anchored shopping centers and Class A office buildings. Preferred Apartment Communities’ investment objective is to generate attractive, stable returns for stockholders by investing in income-producing properties and acquiring or originating real estate loans. As of September 30, 2020, the Company owned or was invested in 125 properties in 15 states, predominantly in the Southeast region of the United States.  Learn more at www.pacapts.com.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements may be identified by the use of forward-looking terminology such as “may”, “trend”, “will”, “expects”, “plans”, “estimates”, “anticipates”, “projects”, “intends”, “believes”, “goals”, “objectives”, “outlook” and similar expressions.  These forward-looking statements include, but are not limited to, statements regarding expected use of proceeds.  Because such statements include risks, uncertainties and contingencies, actual results or actions may differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to, (a) the impact of the coronavirus (COVID-19) pandemic on PAC’s business operations and the economic conditions in the markets in which PAC operates; (b) PAC’s ability to mitigate the impacts arising from COVID-19 and (c) those disclosed in PAC’s filings with the Securities and Exchange Commission. PAC undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as may be required by law.

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SOURCE Preferred Apartment Communities, Inc.

ATLANTA, Nov. 19, 2020 /PRNewswire/ — Preferred Apartment Communities, Inc. (NYSE: APTS) (“PAC” or the “Company”) today announced that holders of the Company’s common stock voted to approve both Proposal 1, a proposal to approve an Articles of Amendment to give bylaw access to common stockholders, and Proposal 2, a proposal to approve an Articles of Amendment to reduce the Company’s call option on its Series A Redeemable Preferred Stock from 10 years to 5 years.  Of the 70.11% voting on Proposals 1 and 2, 97.75% and 95.4% voted in favor of Proposal 1 and Proposal 2, respectively.   

“We are extremely pleased that our common stockholders were overwhelmingly supportive of our efforts to enhance our corporate governance and improve our capital flexibility,” said Joel T. Murphy, the Company’s President and Chief Executive Officer. Mr. Murphy added, “Our Board of Directors is committed to best practices in corporate governance and our effort to proactively provide bylaw access to our common stockholders is consistent with that goal. Further, with the passage of Proposal 2, PAC now has enhanced flexibility to strategically redeem our Series A preferred stock much earlier, so as to provide us with greater balance sheet and expense control flexibility. We believe all of these efforts should ultimately help drive long term earnings growth and value creation for our stockholders.”

About Preferred Apartment Communities, Inc.

Preferred Apartment Communities, Inc. (NYSE: APTS) is a real estate investment trust engaged primarily in the ownership and operation of Class A multifamily properties, with select investments in grocery anchored shopping centers and Class A office buildings. Preferred Apartment Communities’ investment objective is to generate attractive, stable returns for stockholders by investing in income-producing properties and acquiring or originating real estate loans. As of September 30, 2020, the Company owned or was invested in 125 properties in 15 states, predominantly in the Southeast region of the United States.  Learn more at www.pacapts.com.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements may be identified by the use of forward-looking terminology such as “may”, “trend”, “will”, “expects”, “plans”, “estimates”, “anticipates”, “projects”, “intends”, “believes”, “goals”, “objectives”, “outlook” and similar expressions.  Because such statements include risks, uncertainties and contingencies, actual results may differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to, (a) the impact of the coronavirus (COVID-19) pandemic on PAC’s business operations and the economic conditions in the markets in which PAC operates; (b) PAC’s ability to mitigate the impacts arising from COVID-19 and (c) those disclosed in PAC’s filings with the Securities and Exchange Commission. PAC undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as may be required by law.

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SOURCE Preferred Apartment Communities, Inc.

FRANKLIN LAKES, N.J., Nov. 19, 2020 /PRNewswire/ — BD (Becton, Dickinson and Company) (NYSE:BDX), a leading global medical technology company, announced today that it will present at the Evercore ISI 3^rd Annual HealthCONx Virtual Conference on Wednesday, December 2, 2020, at 8:00 a.m. ET.

A live webcast of BD’s presentations can be accessed from the BD corporate website at www.bd.com/investors. A replay will be available for seven days. 

About BD

BD is one of the largest global medical technology companies in the world and is advancing the world of health by improving medical discovery, diagnostics and the delivery of care. The company supports the heroes on the frontlines of health care by developing innovative technology, services and solutions that help advance both clinical therapy for patients and clinical process for health care providers. BD and its 65,000 employees have a passion and commitment to help enhance the safety and efficiency of clinicians’ care delivery process, enable laboratory scientists to accurately detect disease and advance researchers’ capabilities to develop the next generation of diagnostics and therapeutics. BD has a presence in virtually every country and partners with organizations around the world to address some of the most challenging global health issues. By working in close collaboration with customers, BD can help enhance outcomes, lower costs, increase efficiencies, improve safety and expand access to health care. For more information on BD, please visit bd.com.

Contact

Kristen M. Stewart, CFA, Strategy & Investor Relations – 201-847-5378
Kristen Cardillo, Communications – 201-847-5657

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SOURCE BD (Becton, Dickinson and Company)

BOSTON, MA, Nov. 19, 2020 /PRNewswire/ – The eight John Hancock Closed-End Funds listed in the table below announced earnings¹ for the three months ended October 31, 2020. The same data for the comparable three month period ended October 31, 2019 is also available below. 

¹ Earnings refer to net investment income, which is comprised of the Fund’s interest and dividend income, less expenses. Earnings presented represent past earnings and there is no guarantee of future results.

Amounts distributed by the Funds may vary from the earnings shown above and will be announced in separate press releases. Up-to-date distribution rate information is available on John Hancock Investment Management’s web site at www.jhinvestments.com  by clicking on “Closed-End Funds” under the “Daily Prices” tab.

Statements in this press release that are not historical facts are forward-looking statements as defined by the United States securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors which are, in some cases, beyond the Fund’s control and could cause actual results to differ materially from those set forth in the forward-looking statements.

An investor should consider a Fund’s investment objectives, risks, charges and expenses carefully before investing.

About John Hancock Financial and Manulife Financial

John Hancock is a division of Manulife Financial Corporation, a leading international financial services group that helps people achieve their dreams and aspirations by putting customers’ needs first and providing the right advice and solutions. We operate primarily as John Hancock in the United States and as Manulife elsewhere. We provide financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions. Assets under management and administration by Manulife and its subsidiaries were over CAD$1.3 trillion (US$943 billion) as of September 30, 2020. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com.

One of the largest life insurers in the United States, John Hancock supports approximately 10 million Americans with a broad range of financial products, including life insurance, annuities, investments, 401(k) plans, and education savings plans. Additional information about John Hancock may be found at johnhancock.com.

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SOURCE John Hancock Investment Management

LEHIGH VALLEY, Pa., Nov. 19, 2020 /PRNewswire/ — Air Products (NYSE:APD) today announced that Margaret G. McGlynn has elected to retire from the Company’s Board of Directors, effective November 23, 2020 following
15 years of dedicated service.

Ms. McGlynn’s decision to retire comes as she ends a full, 15-year term as an independent director on Air Products’ Board, as Air Products has a term limit of 15 years for directors in its Corporate Governance Guidelines. Most recently, she served as a member of the Company’s Board’s Corporate Governance and Nominating Committee and its Management Development and Compensation Committee.

Ms. McGlynn’s contributions to the Air Products Board—including extensive experience in global marketing, government relations, public policy, mergers and acquisitions, and talent management—derived from her prior leadership of the Global Vaccine and Infectious Disease Division of Merck & Co., Inc.; her role as president and chief executive officer of the International AIDS Vaccine Initiative; and her service on several boards of directors.

Commenting on Ms. McGlynn’s decision to retire, Air Products Chairman, President and Chief Executive Officer Seifi Ghasemi, said, “On behalf of the Board, our management team and our more than 19,000 employees, I want to thank Margie for 15 years of distinguished service on the Board, during which she has contributed significant human resources, governance and other expertise. Speaking personally, I am grateful for Margie’s guidance over the past six years as we have pursued our strategic Five-Point Plan and made Air Products the best performing industrial gas company in the world. We wish Margie happiness and all the best in the future.”

About Air Products
Air Products (NYSE:APD) is a world-leading industrial gases company in operation for 80 years. Focused on serving energy, environment and emerging markets, the Company provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemical, metals, electronics, manufacturing, and food and beverage. Air Products is also the global leader in the supply of liquefied natural gas process technology and equipment. The Company develops, engineers, builds, owns and operates some of the world’s largest industrial gas projects, including: gasification projects that sustainably convert abundant natural resources into syngas for the production of high-value power, fuels and chemicals; carbon capture projects; and world-scale carbon-free hydrogen projects supporting global transportation and the energy transition.

The Company had fiscal 2020 sales of $8.9 billion from operations in 50 countries and has a current market capitalization of about $60 billion. More than 19,000 passionate, talented and committed employees from diverse backgrounds are driven by Air Products’ higher purpose to create innovative solutions that benefit the environment, enhance sustainability and address the challenges facing customers, communities, and the world. For more information, visit www.airproducts.com or follow us on LinkedIn, Twitter, Facebook or Instagram.   

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SOURCE Air Products

ATLANTA, Nov. 19, 2020 /PRNewswire/ — Graphic Packaging Holding Company (NYSE: GPK), announced today that its Board of Directors declared a quarterly dividend of $0.075 per share of common stock to stockholders of record at the close of business on December 15, 2020.  The dividend is payable on January 5, 2021.

About Graphic Packaging Holding Company
Graphic Packaging Holding Company (NYSE: GPK), headquartered in Atlanta, Georgia, is committed to providing consumer packaging that makes a world of difference. The Company is a leading provider of paper-based packaging solutions for a wide variety of products to food, beverage, foodservice, and other consumer products companies. The Company operates on a global basis, is one of the largest producers of folding cartons and paper-based foodservice products in the United States, and holds leading market positions in coated recycled paperboard, coated unbleached kraft paperboard and solid bleached sulfate paperboard. The Company’s customers include many of the world’s most widely-recognized companies and brands. Additional information about Graphic Packaging, its business and its products is available on the Company’s web site at www.graphicpkg.com.

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SOURCE Graphic Packaging Holding Company