Thursday, October 2, 2008

AIG rescue terms

From the NYT website:

"The preferred shares will have an interest equivalent to 79.9 percent of the votes of A.I.G. and be entitled to receive 79.9 percent of any dividends paid by A.I.G. on A.I.G.’s common stock."

Does this mean that dividends are paid roughly 50/50 (44/56) until the preferred is converted?

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