Preferreds converted to common shares
by timcoahran | August 13, 2024 4:15 pm
I didn’t know you could do that. I’m not sure I would be happy, if I’d been a preferred shareholder!
A news article today included:
“New York Community Bancorp’s stock and corporate bonds[1] rallied on Tuesday, after the bank disclosed a conversion of preferred stock into common stock.
The move is generally viewed as positive because it frees issuers from paying steady dividends[2] to preferred shareholders and potentially leaves more money left over to pay back debt or issue dividends to shareholders, according to market observers.”
Endnotes:
- corporate bonds: https://www.stockgumshoe.com/tag/corporate-bonds/
- dividends: https://www.stockgumshoe.com/tag/dividends/
Source URL: https://www.stockgumshoe.com/2024/08/microblog-preferreds-converted-to-common-shares/