New York, NY — July 16, 2007 — Bear Stearns Capital Trust III, a special purpose trust controlled by The Bear Stearns Companies Inc. (NYSE: BSC), today announced its regular quarterly cash distribution on its outstanding shares of 7.8% Trust Issued Preferred Securities.
Bear Stearns Capital Trust III announced a cash distribution of 48.75 cents per share on the outstanding shares of its 7.8% Trust Issued Preferred Securities payable August 15, 2007 to holders of record on August 1, 2007.
Bear Stearns Capital Trust III is a statutory business trust created under Delaware law. All of its common securities are owned by The Bear Stearns Companies Inc. Bear Stearns Capital Trust III exists solely to issue and sell its common and preferred securities, using the proceeds to acquire debentures issued by The Bear Stearns Companies Inc.
Founded in 1923, The Bear Stearns Companies Inc. (NYSE: BSC) is a leading financial services firm serving governments, corporations, institutions and individuals worldwide. The Company's core business lines include institutional equities, fixed income, investment banking, global clearing services, asset management, and private client services. Headquartered in New York City, the company has approximately 15,000 employees worldwide.
Founded in 1923, The Bear Stearns Companies Inc. (NYSE:BSC) is a leading financial services firm serving governments, corporations, institutions and individuals worldwide.