HOUSTON--(BUSINESS WIRE)--Oct. 31, 2017--
Dynegy Inc. (NYSE: DYN) today announced the conversion rate for Dynegy’s
5.375% Series A Mandatory Convertible Preferred Stock (NYSE: DYN PR A)
(Preferred Stock) issued on October 14, 2014. Holders of Preferred Stock
will receive 3.2258 shares of Dynegy common stock for each share of
Preferred Stock that they hold on the mandatory conversion date of
November 1, 2017, with cash to be paid in lieu of any fractional shares.
The conversion rate is based upon the volume weighted average price per
share of the Company’s common stock over the 20 consecutive trading day
period ending on October 27, 2017.
Also, as previously announced, on November 1, 2017 each Preferred
Stockholder of record on October 15, 2017 will receive the final cash
dividend of $1.34375 per share of Preferred Stock.
Throughout the Northeast, Mid-Atlantic, Midwest, and Texas, Dynegy
operates 27,000 megawatts (MW) of power generating facilities capable of
producing enough energy to supply more than 22 million American homes.
We generate power safely and responsibly for 1.2 million electricity
customers who depend on that energy to grow and thrive.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171031006530/en/
Source: Dynegy Inc.
Dean Ellis, 713-767-5800