Dairy Farmers of America, Inc. (the "Company") announced today that it will redeem all 1,500,000 outstanding shares of the Company's 7 7/8% Series A Cumulative Preferred Equity Securities, par value $100.00 per share ("Preferred Securities") on Dec. 30, 2021 (the "Redemption Date").
All Preferred Securities will be redeemed at a cash redemption price of $100.00 per share, plus any accrued and unpaid dividends (whether or not declared) up to, but not including, the Redemption Date (the "Redemption Price"). Dividends on the Preferred Securities will cease to accrue on the Redemption Date. Upon redemption, the Preferred Securities will no longer be deemed outstanding and all rights with respect to the Preferred Securities shall cease and terminate, except only the right of the holders thereof to receive the Redemption Price, without interest.
All issued and outstanding shares of Preferred Securities are held in book-entry form through the Depository Trust Company ("DTC"). The Preferred Securities will be redeemed in accordance with the procedures of DTC. Payment to DTC for the Preferred Securities will be made by Computershare Trust Company N.A., which is serving as redemption agent (the "Redemption Agent"). The Redemption Agent's address is as follows:
Computershare Trust Company N.A.
150 Royall Street
Canton, MA 02021
Attn: Corporate Actions
This press release also constitutes a notice of redemption under the Company's Certificate of Designations governing the Preferred Securities.
About Dairy Farmers of America
Dairy Farmers of America (DFA) is a national, farmer-owned dairy cooperative focusing on quality, innovation and the future of family dairies. While supporting and serving more than 12,500 family farm-owners, DFA manufactures a variety of dairy products, including fluid milk, cheese, butter, ice cream, dairy ingredients and more that connect our Cooperative's family farms to family tables with regional brands such as Alta Dena® Dairy, Meadow Gold® Dairy, Friendly®'s, Borden® Cheese, Plugra® Premium Butter and Kemps® to name a few. On a global scale, we work with some of the world's largest food companies to develop ingredients their customers are craving, while staying committed to social responsibility and ethical farming. For more information, please visit dfamilk.com.