Blockbuster secures quarterly dividend
Convertible preferred shares will be paid $18.75
OCT. 23 | Blockbuster announced a quarterly dividend of $18.75 per share on its 7.5% convertible preferred stock.
The stock and dividend are part of a debt restructuring agreement the company made last year.
To help pay down debt, Blockbuster issued the preferred stock at $1,000 per share, and those who bought the stock were promised $75 per share per year, or 7.5% of the sale price, at $18.75 per quarter.
The quarterly dividend is payable Nov. 15 to holders of record of the stock at close of business on Nov. 1.
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