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Mechel OAO Message Board

  • killerduckdk killerduckdk Jan 2, 2014 9:46 AM Flag

    Dividends on preferred.

    So. Assuming Mechel survives long-term to reap the profits og the Elga deposit.

    Will dividends on earnings for preferred stock be mandatory or could the board get away not issuing any dividends? :-)

    Because if dividends are mandatory, then preferred would be obvious buy at the price of 0.80 per russian share. If not, then I'd expect them to get screwed in some way or the other.

    Historically preferred shares has volatile movements in general in russia. At times selling at 75% discount to common shares, at other times at only 15%.

    At the moment Mechel preferred sells at 70% discount and has not rebounded the last 3 months.
    So they are also a beta/volatility play, which I find interesting.

    What are your knowledge of preferred shares?

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