RE: RE: Hello everyone "What are the odds the pref shareholders will ever collect any the cumulative dividends? It sure as hell isn't 100%"
Las, you have to view the A&B as one group and the C&D as another. The A&B are govern by the conversion clause so the dividend is valued as the numerical value of $dividend / $2, in common shares. To rough it out for both the A&B, every dollar in accrued dividends is roughly equal to 1/2 of 1 common share. The C&D will most likely be around for the restructuring, so the dividends mean nothing other than a book entry. If this goes CCAA and the courts come after the debentures then the commons and preferred along with the dividend are wiped out irregardless of what their book value was.