EuroDry plans to take back millions of dollars worth of preferred shares while lowering its dividend rate for the remaining shares.
The Aristides Pittas-led bulker owner has agreed to redeem approximately $4.3m, of its Series B Preferred Shares, which have a total value of $19.7m as of 31 March.
Since January, the shares carried an annual dividend of 12%, which is set to increase to 14% in January 2021.
