are we being dumb?
Just some thoughts in the recent carnage; while this whole sector is weak it seems the common share investors of all these NG are the only ones suffering. While the common shares are getting crushed on the weak NG pricing, regulatory paralysis, etc. the bond investors and banks providing credit are getting paid handsomely at high interest rates. Additionally, BIR has 2 preferred share series out there whose share prices are stable paying out a juicy 8% dividend. Whats the rationale of BIR having/keeping these pref shares?