Silvergate Capital stock falls after company suspends dividend on preferred shares

Silvergate Capital Corp. SI stock fell 7.5% in premarket trades Friday after the company said it is suspending dividends on its 5.375% fixed rate non-cumulative perpetual preferred stock, Series A, in order to preserve capital. The company said it’s making the move to maintain a “highly liquid balance sheet with a strong capital position as it navigates recent volatility in the digital asset industry.

... Silvergate Capital Corp. SI stock fell 7.5% in premarket trades Friday after the company said it is suspending dividends on its 5.375% fixed rate non-cumulative perpetual preferred stock, Series A, in order to preserve capital. The company said it’s making the move to maintain a “highly liquid balance sheet with a strong capital position as it navigates recent volatility in the digital asset industry.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Murdoch pulls plug on possible merger of News Corp., FoxRupert Murdoch has pulled the plug on a proposal to merge his News Corp. and Fox Corp. In statements Tuesday, the companies said their boards received letters from Murdoch withdrawing the plan.
Source: wjxt4 - 🏆 246. / 63 Read more »