preferred shares

But it does not always pay to follow Mr. Buffett's moves, at least when he buys preferred shares rather than common stock.

Its $82bn in excess liquidity put the bank in a strong position and he could raise more capital by issuing preferred shares.

The company said the results include an 18-cent reduction per share from the repurchase of preferred shares from the U. S. Treasury.

They own preferred shares in many banks, common equity in others and stand ready to inject capital in others still.

During the course of his investment, the preferred shares paid a 10 percent annual dividend, or roughly $300 million a year.

In each case, bottom line results were significantly affected by derivatives embedded in preferred shares issued by the company.

Preference or preferred shares entitle a holder to a prior claim on any dividend paid by the company.

Berkshire Hathaway will receive perpetual preferred shares in Goldman, which will pay a 10 annual percent dividend, or $500 million a year.

And the bank may offer to exchange some publicly held preferred shares into common stock in late May.

The Treasury will become an investor in preferred shares and warrants of the GSEs, with a position senior to current investors.

Tactically, too, the approach of injecting capital in the form of preferred shares rather than common equity, has its limits.

The rescue of Fannie Mae and Freddie Mac junked both the common shares and the preferred shares (which rank above them in a bankruptcy).

GM said it will repay the money by buying back 83. 9 million preferred shares owned by the U. S. Treasury.

Because of Treasury backing, the bulk of Fannie's and Freddie's debt (though not their preferred shares) will settle at par or close to it.

Mr. Ely was particularly skeptical about letting companies bolster their balance sheets by converting preferred shares to common.

Over several weeks, Mr. Tepper's team bought a variety of bank investments, including debt, preferred shares and common shares.

Panasonic believes that the huge chunk of unconverted preferred shares means that Sanyo is overvalued.

I favor the Warren Buffett approach: preferred shares that pay interest and warrants to acquire an equity stake at an attractive price.

Banks' share prices would, of course, remain uncertain while preferred shares were outstanding.

and restrictions on executive pay, dividends and acquisitions until banks redeem the preferred shares in full.

If preferred shares are partially participating, there is an upper limit beyond which the preferred dividend percentage may not rise.

Mizuho Financial Group in January said it would provide $1. 2 billion to Merrill Lynch &Co. through the purchase of preferred shares.

Convertibles Securities, usually bonds or preferred shares, that can be converted into common stock.

The preferred shares they hold eventually will convert into common stock at an effective cost of 70 yen a share.

On an annualized basis, the Treasury's investment in the 22 banks that have redeemed the preferred shares and warrants yielded 12. 74%.

Citi will begin a conversion of preferred shares into common stock held by the US government and other shareholders this week.

Raising private capital or persuading other owners of preferred shares, about $30bn worth, to convert into common eases the strain.

During the quarter, Berkshire also invested $5 billion in preferred shares issued by Bank of America Corp.

If the common dividend is larger than 6 percent of par value, the preferred shares are also entitled to the larger percentage.

After five years, any remaining preferred shares would convert to common shares.

The preferred shares would carry a low coupon, say 5 per cent, so as not to impair banks' profitability.

But to include preferred shares or not?

But its biggest hit came from a $180 million June investment in Lehman common and preferred shares.

Converting all private preferred shares into common stock raises about $45bn.

Bank of America, the second-largest U. S. bank behind Citigroup, is paying 8 percent on perpetual preferred shares sold the same month.

Sunday's agreement gives ING the right to buy back the preferred shares at 150% of the issue price.

The carmaker earlier repaid $7. 1bn in loans from Washington and is due to redeem $2. 1bn in preferred shares next month.

Porsche, whose preferred shares have gained 32 percent, ranks fourth.

Goldman returned the favour in 2003, injecting Y150bn of preferred shares into the cash-strapped SMFG.

Not long after that deal, Mr. Buffett agreed to buy $3 billion of General Electric preferred shares with a 10% annual dividend.

"In addition the dividend is higher, " Soeraunet said, comparing the payout on preferred shares and ordinary stock.

Second, the Treasury has $43 billion of preferred shares in AIG itself.

The deal also includes $326 million in preferred shares in the new company.

In return, we get preferred shares that pay 8% dividends and. . .

GM, in the IPO, will seek to sell $10 billion in common shares and $3 billion in preferred shares.

After the conversion of its preferred shares, the government will own a stake of about 34 per cent in Citi.

The government will be given preferred shares in each trust, which will likely pay a 5% dividend.

One issue -- Lehman Series J preferred shares -- fell more than 24% on Tuesday to $9. 15, down from their issuance price of around $25.

Having completed a Series A round, ABC issues 4 million preferred shares at $1 a piece.

Preferred shares of Volkswagen, Europe's largest automaker, retreated 4. 6 percent to 116. 05 euros, a two-month low.

Some economists believe we should stick with the current plan, and continue to buy up preferred shares in bank stocks.

The preferred shares have a liquidation preference of $1, 000 apiece.

Henkel AG preferred shares lost 2 percent to 47. 33 euros.

And it sold $4. 35 billion in preferred shares.

Porsche preferred shares slid 4. 6 percent to 64. 73 euros.

VW preferred shares gained 3. 2 percent to 127. 70 euros.

Henkel AG preferred shares jumped 8. 5 percent to 45. 62 euros, the highest price on record.

Berkshire's deal with BofA includes: buying 50, 000 preferred shares of the bank at a dividend of 6% a year;

In Japan, too, banks have lots of preferred shares in their capital bases.

then, in connection with each such event, the Company shall send to the holders of the Series A Preferred Shares:

Number of Preferred Shares to be converted:

The holders of the Series A Preferred Shares have conversion rights as follows (the "Conversion Rights" ):

Cumulative dividends on Series B convertible redeemable preferred shares B

In 6 cases the government purchased preferred shares;

22, 000, 000 Series-A Convertible Preferred Shares;