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Possibly the new preferred series would have cumulative

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camaro4me   Friday, 05/31/19 06:57:34 PM
Re: RuudG post# 530831
Post # of 542509 
Possibly the new preferred series would have cumulative dividends, unlike the existing JPS today which are non-cum. FnF do not have to pay existing Preferred holders back dividends.

Quote:
Why would FNMAS, FMCKJ and FNMAT holders, for example, which make up about 1/2 of all outstanding JPS series, agree to convert to a JPS series at a lower coupon?



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