Regions :: North America :: U.S.
Dow share gains could allow it to retire expensive preferred shares
12:59 PM MDT | July 24, 2014 | Robert Westervelt
A rally in Dow Chemical’s share price, helped by yesterday’s strong second-quarter earnings report, has put the company in a position to convert $4 billion in preferred shares that carry an expensive $340-million/year dividend. Dow’s shares closed at $53.89/share yesterday, the highest level in more than nine years, and the company will be able to convert the preferred shares to common shares if the stock price exceeds $53.72/share for 20 trading days over the next month. Berskhire Hathaway, run by Warren Buffett, owns $3 billion in...
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