 Huntington Preferred Capital had one subsidiary, HPCLI, Inc., a taxable REIT subsidiary formed in March 2001 for the purpose of holding certain assets (primarily leasehold improvements).On December 31, 2007, Huntington Preferred Capital paid common stock dividends consisting of cash and the stock of HPCLI to its common stock shareholders.After the stock dividend was paid, HPCLI became a wholly owned subsidiary of Huntington Preferred Capital Holdings, which holds all the shares of HPCLI.