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Hecla defers Oct. 1 dividends on all series of convertible preferreds
By Angela McDaniels
Tacoma, Wash., Aug. 25 - Hecla Mining Co. said the Oct. 1 quarterly dividend payments to the holders of all three classes of its preferred stock have been deferred.
The three classes of stock are the company's series B cumulative convertible preferreds, series C mandatory convertible preferreds and 12% convertible preferreds.
The deferral is due to restrictions contained in the company's bank credit agreement and the need to conserve cash, according to a company news release.
Hecla mines, processes and explores for silver and gold in the United States and Mexico. It is based in Coeur d'Alene, Idaho.
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