PG&E To Redeem $43 Million Preferred Stock.SAN FRANCISCO--(BUSINESS WIRE)--June 30, 1998--Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE NYSE See: New York Stock Exchange :PCG PCG phonocardiogram. ), announced today that on July 31, 1998, it will redeem all of its 6-7/8% Redeemable First Preferred Stock First preferred stock A type of preferred stock that has priority over other preferred issues and common stock when claiming dividends and assets. first preferred stock , Series X, of which $43 million is currently outstanding. Holders of the 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. series will receive an accrued dividend for the period from May 1, 1998, to and including July 31, 1998, of $.429688 per share, plus the redemption price of $25 per share, for a total of $25.429688 per share. For more information about PG&E, please visit our web site, http://www.pge.com.
CONTACT: Pacific Gas and Electric Company
Tony Ledwell, 415/973-5930
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