Wintrust Financial Corporation has announced the redemption of all outstanding Series D and Series E preferred stock and related depositary shares. The redemption of the 5,000,000 shares of its fixed-to-floating rate non-cumulative perpetual preferred stock, Series D, will be at a price of $25.00 per share. Additionally, the 11,500 shares of its 6.875% fixed-rate reset non-cumulative perpetual preferred stock, Series E, and all related 11,500,000 depositary shares will be redeemed at a price of $25,000 per share of Series E preferred stock or $25.00 per depositary share.
The redemptions will be funded with a portion of the net proceeds from Wintrust’s public offering of depositary shares, each representing a 1/1,000th interest in a share of its 7.875% fixed-rate reset non-cumulative perpetual preferred stock, Series F, which was completed on May 22, 2025.
Following the redemption date of July 15, 2025, no shares of Series D preferred stock, Series E preferred stock, or depositary shares will remain outstanding, and trading of the Series D preferred stock and depositary shares on the Nasdaq stock market will cease.
The regular quarterly dividends on the Series D preferred stock and the Series E preferred stock represented by the depositary shares will be paid separately on the redemption date to holders of record on July 1, 2025, in the customary manner. Accrued and unpaid dividends will not be included in the redemption price.
Investors in the Series D preferred stock and the depositary shares are advised to contact the bank or broker through which they hold a beneficial interest in the stock or shares for information about obtaining the redemption price payment.
Following these redemptions, Wintrust Financial Corporation continues to operate more than 200 retail banking locations through 16 community bank subsidiaries in various market areas, offering a community banking experience to each customer. As a result of these announcements, the company's shares have moved -0.73% on the market, and are now trading at a price of $120.10. For more information, read the company's full 8-K submission here.
