| Preferred Stock Issued and Outstanding |
The following is a summary of CSC’s non-cumulative perpetual preferred stock issued and outstanding as of such dates: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Dividend Rate in Effect at December 31, 2025 | | Date at Which Dividend Rate Resets or Becomes Floating | Reset /
Floating Rate | Margin Over Reset / Floating Rate | | Shares Issued and Outstanding (in ones) at December 31, | Liquidation Preference Per Share | Carrying Value at December 31, | | Earliest Redemption Date | | 2025 (1) | 2024 (1) | 2025 | 2024 | Issue Date | | Fixed-rate: | | | | | | | | | | | | | Series D | 750,000 | | 750,000 | | $ | 1,000 | | $ | 728 | | $ | 728 | | 03/07/16 | 5.95 | % | 06/01/21 | N/A | N/A | N/A | | Series J | 600,000 | | 600,000 | | 1,000 | | 584 | | 584 | | 03/30/21 | 4.450 | % | 06/01/26 | N/A | N/A | N/A | | Fixed-to-floating rate/Fixed-rate reset: | | | | | | | | | | Series F | 4,884 | | 4,884 | | 100,000 | | 481 | | 481 | | 10/31/17 | 5.000 | % | 12/01/27 | 12/01/27 | 3M LIBOR (5) | 2.575 | % | Series G (2) | — | | 24,580 | | — | | — | | 2,428 | | 04/30/20 | — | | — | | — | | — | | — | | Series H (3) | 22,267 | | 22,267 | | 100,000 | | 2,200 | | 2,200 | | 12/11/20 | 4.000 | % | 12/01/30 | 12/01/30 | 10-Year Treasury | 3.079 | % | Series I (4) | 20,554 | | 20,554 | | 100,000 | | 2,030 | | 2,030 | | 03/18/21 | 4.000 | % | 06/01/26 | 06/01/26 | 5-Year Treasury | 3.168 | % | Series K (4) | 7,500 | | 7,500 | | 100,000 | | 740 | | 740 | | 03/04/22 | 5.000 | % | 06/01/27 | 06/01/27 | 5-Year Treasury | 3.256 | % | Total preferred
stock | 1,405,205 | | 1,429,785 | | | $ | 6,763 | | $ | 9,191 | | | | | | | |
(1) Represented by depositary shares.(2) Series G was redeemed on June 2, 2025. (3) The dividend rate for Series H resets on each ten-year anniversary from the first reset date. (4) The dividend rate for Series I and Series K resets on each five-year anniversary from the first reset date. (5) The reset/floating rate for Series F will be determined by the calculation agent prior to the commencement of the floating rate period using what the calculation agent determines to be the industry-accepted substitute or successor base rate to LIBOR. N/A Not applicable.
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| Dividends Declared |
Dividends declared on the Company’s preferred stock are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, | 2025 | | 2024 | | 2023 | | Total
Declared
(in millions) | | Per Share
Amount | | Total
Declared
(in millions) | | Per Share
Amount | | Total Declared (1) (in millions) | | Per Share
Amount | | | | | | | | | | | | | | | | | | | | | | | | | | Series D | $ | 44.6 | | | $ | 59.52 | | | $ | 44.6 | | | $ | 59.52 | | | $ | 44.6 | | | $ | 59.52 | | | | | | | | | | | | | | | Series F | 24.4 | | | 5,000.00 | | | 24.3 | | | 5,000.00 | | | 24.3 | | | 5,000.00 | | Series G (2) | 66.0 | | | 2,687.50 | | | 132.2 | | | 5,375.00 | | | 132.2 | | | 5,375.00 | | Series H | 89.1 | | | 4,000.00 | | | 89.1 | | | 4,000.00 | | | 90.4 | | | 4,000.00 | | Series I | 82.3 | | | 4,000.00 | | | 82.3 | | | 4,000.00 | | | 82.8 | | | 4,000.00 | | Series J | 26.7 | | | 44.52 | | | 26.7 | | | 44.52 | | 26.7 | | | 44.52 | Series K | 37.4 | | | 5,000.00 | | | 37.4 | | | 5,000.00 | | | 37.4 | | | 5,000.00 | | | Total | $ | 370.5 | | | | | $ | 436.6 | | | | | $ | 438.4 | | | |
(1) Excludes $3 million of dividends declared on Series G, Series H, and Series I, and accrued by stockholders as of the repurchase date. Such dividends are part of the consideration paid upon repurchase of the depositary shares during the year ended December 31, 2023. (2) Series G was redeemed on June 2, 2025. Prior to redemption, dividends were paid quarterly. The final dividend was paid on June 2, 2025.
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