JUNO BEACH, Fla., Aug. 30, 2016 /PRNewswire/ -- NextEra Energy, Inc. (NYSE: NEE) today announced the settlement rate for the stock purchase contracts that are components of corporate units (NYSE: NEE PR P) that it issued in September 2013. Holders of the corporate units will receive 0.5101 shares of NextEra Energy common stock for each stock purchase contract that they hold. The settlement rate is based upon the average of the closing price per share of NextEra Energy common stock on the New York Stock Exchange for the 20 consecutive trading days ending on Aug. 29, 2016.
Consequently, on Sept. 1, 2016, each holder of the corporate units on that date will, following payment of $50.00 for each unit which it holds, receive 0.5101 shares of NextEra Energy common stock for each such unit. The holders' obligations to make such payments will be satisfied with proceeds generated by the successful remarketing on Aug. 25, 2016, of the NextEra Energy Capital Holdings, Inc. debentures that formerly constituted a component of the corporate units.
Upon settlement of all outstanding stock purchase contracts, NextEra Energy will receive $500 million in exchange for approximately 5.10 million shares of common stock.
On Sept. 1, 2016, each corporate unit holder of record on Aug. 31, 2016, will receive the final quarterly cash distribution of $0.724875 payable per corporate unit.
NextEra Energy, Inc.
NextEra Energy, Inc. (NYSE: NEE) is a leading clean energy company with consolidated revenues of approximately $17.5 billion and approximately 14,300 employees in 27 states and Canada as of year-end 2015, as well as approximately 45,000 megawatts of generating capacity, which includes megawatts associated with noncontrolling interests related to NextEra Energy Partners, LP (NYSE: NEP) as of April 2016. Headquartered in Juno Beach, Fla., NextEra Energy's principal subsidiaries are Florida Power & Light Company, which serves more than 4.8 million customer accounts in Florida and is one of the largest rate-regulated electric utilities in the United States, and NextEra Energy Resources, LLC, which, together with its affiliated entities, is the world's largest generator of renewable energy from the wind and sun. Through its subsidiaries, NextEra Energy generates clean, emissions-free electricity from eight commercial nuclear power units in Florida, New Hampshire, Iowa and Wisconsin. A Fortune 200 company and included in the S&P 100 index, NextEra Energy has been recognized often by third parties for its efforts in sustainability, corporate responsibility, ethics and compliance, and diversity, and has been ranked No. 1 in the electric and gas utilities industry in Fortune's 2016 list of "World's Most Admired Companies." For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com, www.FPL.com, www.NextEraEnergyResources.com.
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SOURCE NextEra Energy, Inc.