Common use of Dividend Record Dates Clause in Contracts

Dividend Record Dates. The March 1, June 1, September 1 or December 1 immediately preceding the relevant Dividend Payment Date. Dividend Payment Dates: March 15, June 15, September 15 and December 15 of each year, commencing on September 15, 2020 and ending on, and including, June 15, 2023. Mandatory Conversion Date: The second business day immediately following the last trading day of the 20 consecutive trading day period beginning on, and including, the 21st scheduled trading day immediately preceding June 15, 2023. The Mandatory Conversion Date is expected to be June 15, 2023. Initial Price: Approximately $75.91, which is equal to $100.00, divided by the Maximum Conversion Rate (as defined below). Threshold Appreciation Price: Approximately $92.99, which represents an approximately 22.5% appreciation over the Initial Price and is equal to $100.00, divided by the Minimum Conversion Rate (as defined below). Floor Price: $26.57 (approximately 35% of the Initial Price), subject to adjustment as described in the Mandatory Convertible Preferred Share Preliminary Prospectus Supplement.