MNRK - Almost $4.5 Million Paid in Preferred Dividends the last three years, but not Anymore!
May be bumpy ride for a few weeks until the additional shares/float get digested, but this is great news for long term investors of MNRK!
As the CEO so eloquently stated recently: "The return of our capital to common stock and the anticipated growth in our net income available to common shareholders will have a positive impact on our shareholders". I couldn't agree more!
And please don't think there will be a mass exodus by the preferred holders, I wouldn't be surprised if they continued to ride this freight train! Why pay all the capital gains taxes...and invest where???
This puppy still has a lot of upside, the dividend will now increase, etc......