AMG Announces Conversion Rate Adjustment for its 5.15% Junior Convertible Trust Preferred Securities Due 2037
Affiliated Managers Group, Inc. (AMG)
Last affiliated managers group, inc. earnings: 4/27 07:03 am
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Source: GlobeNewswire
WEST PALM BEACH, Fla., Aug. 09, 2019 (GLOBE NEWSWIRE) -- Affiliated Managers Group, Inc. (NYSE:AMG) today announced an adjustment to the conversion rate of its 5.15% junior convertible trust preferred securities due 2037 (the “junior convertible securities”). The conversion rate adjustment is being made in accordance with the indenture governing the conversion of the junior convertible securities as a result of the quarterly cash dividends paid by AMG on common shares since the fourth quarter of 2018 through the previously announced quarterly cash dividend with an ex-dividend date of August 7, 2019 to be paid on August 22, 2019. Effective immediately, the conversion rate is adjusted from 0.2525 common shares per $50.00 junior convertible security to 0.2558 common shares per $50.00 junior convertible security, equivalent to an adjusted conversion price of $195.4652 per common share, compared to the prior conversion price of $198.0198 per common share. About AMG AMG is a global asse
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