It seems now that FCH has addressed its debt -- pushing out maturities about five years (at the cost of higher interest), will mgt now focus on the preferreds. At current prices, less than half par value of $25, the company could re-purchase shares and effect significant interest savings. I have to believe they do not want these dividends to keep accumulating since they will have to pay at some point.

Anybody have thoughts? Evaluer? You have a good understanding of capital/debt structure ...