LOS ANGELES, Aug. 7, 2026 /PRNewswire/ -- Southern California Gas Company ("SoCalGas") today announced that its board of directors has approved the retirement (the "Retirement") of all outstanding shares of the company's 6% Preferred Stock, $25 par value ("Preferred Stock"), and 6% Preferred Stock, Series A, $25 par value ("Series A Preferred Stock"). SoCalGas is effecting the Retirement to simplify its capital structure while delivering immediate value to shareholders, all as part of its efforts to modernize its business and serve its stakeholders.
The approval by the board of directors follows shareholder approval of the amendment and restatement of the company's Restated Articles of Incorporation that implements the Retirement and makes certain other related changes (as so amended and restated, the "Restated Charter") at a special meeting of SoCalGas shareholders held on Aug. 6, 2026.
SoCalGas plans to file the Restated Charter with the California Secretary of State on Aug. 17, 2026 (the "Retirement Date"). On the Retirement Date, each outstanding share of the company's Preferred Stock and Series A Preferred Stock will be automatically retired in exchange for a cash payment of $31.135616 per share (the "Retirement Payment"), constituting $31.00 per share plus accrued and unpaid dividends thereon to but excluding the Retirement Date.
The Retirement Payment is payable on the Retirement Date, to holders of record of the Preferred Stock and Series A Preferred Stock on such date.
Following the Retirement, no shares of Preferred Stock or Series A Preferred Stock will be outstanding, and certificates or book entries representing such retired shares will represent only the receipt of or right to receive the Retirement Payment.
In the interest of facilitating an orderly retirement process, SoCalGas plans to voluntarily withdraw both the Preferred Stock (OTCQB: SOCGM) and the Series A Preferred Stock (OTCQB: SOCGP) from quotation on the OTCQB market, effective after market close on Aug. 13, 2026.
About SoCalGas
SoCalGas is the largest gas distribution utility in the United States, serving more than 21 million consumers across approximately 24,000 square miles of Central and Southern California. Our mission is: Safe, Reliable, and Affordable energy delivery today. Ready for tomorrow. SoCalGas is a recognized leader in the energy industry and has been named Corporate Member of the Year by the Los Angeles Chamber of Commerce for its volunteer leadership in the communities it serves. SoCalGas is a subsidiary of Sempra (NYSE: SRE), a leading U.S. utility growth business. For more information, visit SoCalGas.com/newsroom or connect with SoCalGas on social media @SoCalGas.
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