Kansas City Southern Announces Preferred Dividends.KANSAS CITY Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). , Mo. -- The executive committee of the board of directors of Kansas City Southern (KCS KCS keratoconjunctivitis sicca. ) (NYSE NYSE See: New York Stock Exchange :KSU (Key Service Unit) The cabinet that contains the electronics for a key telephone system. See key telephone system. ) today announced the declaration of dividends on three classes of preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. as detailed below. The executive committee of the board of directors declared the following dividends: * A cash dividend of $.25 per share was declared on the outstanding 4% Non-Cumulative Preferred stock, payable on April 3, 2007, to shareholders of record at the close of business on March 12, 2007. * A cash dividend of $5.4818 per share representing the dividend payment originally due May 15, 2006, was declared on the outstanding 4.25% Redeemable Cumulative Convertible Perpetual Preferred stock, Series C (the "Series C Preferred Stock"), payable February 15, 2007, to shareholders of record at the close of business on February 5, 2007. * A cash dividend of $5.4254 per share representing the dividend payment originally due August 15, 2006, was declared on the outstanding Series C Preferred Stock, payable February 15, 2007, to shareholders of record at the close of business on February 5, 2007. * A cash dividend of $5.3689 per share representing the dividend payment originally due November 15, 2006, was declared on the outstanding Series C Preferred Stock, payable February 15, 2007, to shareholders of record at the close of business on February 5, 2007. * A cash dividend of $5.3125 per share representing the dividend payment due February 15, 2007, was declared on the outstanding Series C Preferred Stock, payable February 15, 2007, to shareholders of record at the close of business on February 5, 2007. * A dividend payable in KCS common stock of $13.3050 per share representing the dividend payment originally due May 15, 2006, was declared on the outstanding 5 1/8% Cumulative Convertible Perpetual Preferred stock, Series D (the "Series D Preferred Stock"), payable February 15, 2007, to stockholders of record at the close of business on February 5, 2007. * A dividend payable in KCS common stock of $13.1408 per share representing the dividend payment originally due August 15, 2006, was declared on the outstanding Series D Preferred Stock, payable February 15, 2007, to stockholders of record at the close of business on February 5, 2007. * A dividend payable in KCS common stock of $12.9767 per share representing the dividend payment originally due November 15, 2006, was declared on the outstanding Series D Preferred Stock, payable February 15, 2007, to stockholders of record at the close of business on February 5, 2007. * A dividend payable in KCS common stock of $12.8125 per share representing the dividend payment due February 15, 2007, was declared on the outstanding Series D Preferred Stock, payable February 15, 2007, to stockholders of record at the close of business on February 5, 2007. The number of shares of KCS common stock payable to the record holders of the Series D Preferred Stock will be determined in accordance with the terms of the Certificate of Designations of the Series D Preferred Stock dated December 9, 2005. Following payment of the above dividends, all dividend arrearages on the Series C Preferred Stock and Series D Preferred Stock will be satisfied. "KCS' improved operating performance for the first nine months of 2006, as evidenced by a substantial year-over-year increases in operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. and EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become , allows us to restore dividend payments at this time," stated Chairman and Chief Executive Officer Michael R. Haverty. Headquartered in Kansas City, Mo., KCS is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway The Kansas City Southern Railway (AAR reporting marks KCS) is a United States-based Class I railroad operating over 3,130 track miles in 12 central and southeastern states. Founded in 1887, the railroad provides the shortest route from Kansas City to the Gulf of Mexico. Company, serving the central and south central U.S. Its international holdings include Kansas City Southern de Mexico, serving northeastern and central Mexico and the port cities of Lazaro Cardenas, Tampico and Veracruz, and a 50 percent interest in Panama Canal Panama Canal, waterway across the Isthmus of Panama, connecting the Atlantic (by way of the Caribbean Sea) and Pacific oceans, built by the United States (1904–14) on territory leased from the republic of Panama. Railway Company, providing ocean-to-ocean freight and passenger service along the Panama Canal. KCS' North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. rail holdings and strategic alliances are primary components of a NAFTA NAFTA in full North American Free Trade Agreement Trade pact signed by Canada, the U.S., and Mexico in 1992, which took effect in 1994. Inspired by the success of the European Community in reducing trade barriers among its members, NAFTA created the world's Railway system, linking the commercial and industrial centers of the U.S., Canada and Mexico. |
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