EuroDry Ltd. Announces Partial Redemption of its Preferred Shares and Reduction of Their Dividend Rate until 2021
EuroDry Ltd. - Common Shares (EDRY)
Last eurodry ltd. - common shares earnings: 2/12 04:05 pm
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Source: GlobeNewswire
MAROUSSI, ATHENS, Greece, June 18, 2019 (GLOBE NEWSWIRE) -- EuroDry Ltd. (NASDAQ: EDRY, the “Company” or “EuroDry”), an owner and operator of drybulk vessels and provider of seaborne transportation for drybulk cargoes, announced today that it agreed to redeem approximately $4.3 million of its Series B Preferred Shares with a simultaneous reduction of the dividend rate for the remaining outstanding shares. The Series B Preferred Shares have an aggregate value of about $19.7 million as of March 31, 2019 and since January 2019, carried an annual dividend of 12% which is set to increase to 14% in January 2021. After the agreed upon redemption of $4.3 million, there will be $15.4 million face value of Series B Preferred Shares outstanding. In parallel with the redemption, the holders of the remaining Series B Preferred Shares agreed to reduce the annual dividend of the shares to 9.25% until January 2021. Aristides Pittas, Chairman and CEO of Euroseas commented: “We are very pleased to a
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Sec Filings
- 4/24/24 - Form 20-F
- 2/16/24 - Form 6-K
- EDRY's page on the SEC website