Dividend suspended 3/2020 because of asset damage caused by Covid 19. On 5/12/2020 the company announced the reinstatement of the dividend to be paid in a combination of stock and cash
Coupon is fixed at a rate of 7.75% until 12/27/2024 after which it floats at a rate of 3 month Libor plus a spread of 5.18%
While these shares are not called fixed to floating rate the issue is in fact a fixed to floating rate issue.
The coupon will be 8.75% until 12/27/2018 at which point it will begin to float at the rate of 3 month libor plus a spread of 7.151%
2/13/2020 The Company announced today that it will redeem all 2,300,000 of its outstanding Series A Preferred Stock, representing an aggregate liquidation value of $57.5 million, on March 14, 2020 (the “Redemption Date”). The Series A Preferred Stock will be redeemed at the redemption price of $25.00 per share, plus $0.34826 in accumulated and unpaid dividends, for an aggregate redemption price of $25.34826 per share. Dividends will cease to accrue on the Series A Preferred Stock as of the Redemption Date.
