HOUSTON--(BUSINESS WIRE)--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.