those shorts know damn well pref. does not dilute common. F..uck wake up longs and don't let them feed you shyyt ,shorts know damn well but I guess educated short can run undereducated long all over the board.
OK...follow me on this one...Pref. Divs. are subtracted from Net Income when calculating EPS...it's dilutive to a magnitude of $0.40/share annually. The present value of the dividends as a perpetuity is $27B ($2.16B/0.08), so if you consider that the company would need to issue 6.75B shares of stock to counteract the present value of the dividends and that the company only has 5.45B shares outstanding...its dilutive. Even at the $10.61 exercise price it still represents an issuance of 2.54B shares. No matter how you look at it...it is dilutive to common holders.