why not just have a series of special divdends. why do you need to have preferred shares ?
microsoft paid what, 35 billion , years ago.
that was a good idea to return money.
their mistake was, making it a one time payment.
once the cash was paid, why stay invested ?
why create prefferred shares.
why not pay a larger dividend, for the forseeabe future.
why not a series of one time dividends, over the next few years, as cash permits.
you arent doing anything with that cash.
that is stupid.
but dont create new shares thats stupid.
and dont make it a one time payment.