Hecla defers Jan. 1 dividends on convertible preferreds

By Angela McDaniels

Tacoma, Wash., Dec. 8 - Hecla Mining Co. said it will defer the Jan. 1 quarterly payment of dividends to the holders of its series B cumulative convertible preferred stock and series C mandatory convertible preferreds.

The decision was made in the interest of cash conservation, according to a company news release.

Hecla's common stock is currently below the minimum price of $3.395 per share needed to pay the series C preferred dividend in common stock without incurring an additional cash outlay.

Hecla is a silver and gold mining company based in Coeur d'Alene, Idaho.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.