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Silvergate Capital Suspends Dividends on Preferred Stocks
Summary: Crypto bank Silvergate Capital has suspended dividends on its preferred stock, citing a need to preserve capital amid the volatile digital asset industry, according to reports by CoinDesk. As a result, Silvergate’s preferred stock fell more than 26% at $8.43 while its common shares fell 6% at $13.26. The bank's stock lost around 90% of ...
Crypto bank Silvergate Capital has suspended dividends on its preferred stock, citing a need to preserve capital amid the volatile digital asset industry, according to reports by CoinDesk.
As a result, Silvergate’s preferred stock fell more than 26% at $8.43 while its common shares fell 6% at $13.26.
The bank's stock lost around 90% of its value in 2022 following the fall of several crypto firms that year.
Author: Katie Lin
Tags: common shares,Crypto Bank,dividends,preferred stock,Silvergate Capital
Link: Silvergate Capital Suspends Dividends on Preferred Stocks [Copy]
