LTC Properties Inc., Malibu, Calif., has called for a redemption of nearly 2 million shares of 9.0% series B cumulative preferred stock, which represents all the outstanding shares of the series B stock.The company said the redemption price will be $25 per share plus accrued and unpaid dividends, or $25.1875 per share. The redemption date will be March 31, 2004. LTC, a real estate investment trust that invests in long-term care and other health care facilities, can be found on the Web at http://www.ltcproperties.com.
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