Fortress Biotech shares are trading lower after the company announced a pause in the payment of dividends on its 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock.
Portfolio Pulse from Benzinga Newsdesk
Fortress Biotech shares are trading lower after the company announced a pause in the payment of dividends on its 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock.
July 05, 2024 | 8:11 pm
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Fortress Biotech shares are trading lower after the company announced a pause in the payment of dividends on its 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock.
The pause in dividend payments is a negative signal to investors, indicating potential financial stress or a strategic shift in capital allocation. This has led to a decline in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100