Corts Trust Peco Energy Capital Trust III
KTH
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- None
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 2301 Market Street Philadelphia PA United States of America 19101
- IPO Date
- Feb 12, 2001
- CIK
- 0001283464
- Similar Companies
- Business
- Corts Trust Peco Energy Capital Trust III (NYSE: KTH) operates as a special purpose entity that issues Corporate Backed Trust Securities (CorTS) certificates backed by preferred securities from PECO Energy Capital Trust III, providing investors with an 8.0% fixed dividend yield on a $25 stated amount per certificate, maturing on June 4, 2028. The trust's sole products and services consist of these CorTS certificates, which represent fractional undivided beneficial ownership interests in the underlying 8.00% Cumulative Preferred Securities issued by PECO Energy Capital Trust III; the certificates entitle holders to quarterly distributions of $0.50 per certificate (equivalent to $2.00 annually or 8% on $25), subject to available funds from the underlying assets. Headquartered at 388 Greenwich Street, New York, New York, the trust was established around 2002 in connection with the issuance of these structured securities linked to PECO Energy, a utility subsidiary historically serving the mid-Atlantic region of the United States. The trust has no active operations beyond holding the underlying PECO Energy Capital Trust III preferred securities and distributing proceeds to certificate holders, targeting income-focused investors in the structured products and asset management segments of the financial services industry. Recent major changes include regular quarterly dividend distributions, with ex-dividend dates in April 29, 2025, and October 30, 2025, each at $1.00 per share (adjusted for semi-annual payments), alongside an 8-K filing on November 12, 2025, announcing a $1.00 interest distribution on October 31, 2025, for holders of record, reflecting ongoing stability in payout obligations amid light trading volume and a share price around $28.50-$29.00. No significant partnerships, acquisitions, new product launches, or operational expansions have been reported in the last 1-2 years; the entity maintains its static structure with zero short interest and low volatility, consistent with its non-operational status.