RE:RE:RE:Can BBD buy prefs in the open market for cancellation? All these decades it appears they never bought back any preferred shares.
Total: 12,000,000 outstanding Series 2+3 preferred shares
Series 2: 5,811,736 shares
Series 3: 6,188,264 shares
Total: 9,400,000 outstanding Series 4 preferred shares
Series 4: 9,400,000 shares
Retained Dividends
Series 2 ($0.9876 annual) = $5,739,670.47
Series 3 ($0.99575 annual) = $6,161,963.87
Series 4 ($1.5625 annual) = $14,687,500
Total Annual Savings (Series 2,3,4): $11,901,634.35 (Series 2+3)+$14,687,500 (Series 4)=$26,589,134.35
I agree though, on Par price it really is cheap. Really though, it's a continous drain on cash.