Chemical Week Magazine :: Business & Finance :: United States/Americas
Dow share gains could allow it to retire expensive preferred shares
7:01 AM MDT | August 1, 2014 | â€”Robert Westervelt
A rally in Dow Chemicalâ€™s share price, aided by its strong second-quarter earnings report on 23 July, has the conversion of $4 billion in preferred shares that carry an expensive $340-million/year dividend in sight. Dowâ€™s shares are trading at their highest levels in nine years. 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 in a 30-consecutive-day window. As of 29 July, Dowâ€™s shares have been above the threshold for five straight trading days. Berskhire Hathaway, run by...
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