In 1996, Microsoft issued 12.5 million convertible preferred shares carrying a dividend of 2.75 percent for $980 million. The shares were converted into common shares in December 1999, with each preferred share receiving 1.1273 common shares. At the time of conversion, Microsoft's common shares traded at $88 each.
What was the loss to shareholders from the conversion?© BrainMass Inc. brainmass.com October 10, 2019, 12:07 am ad1c9bdddf
The expert examines the loss to shareholders from the conversion of preferred shares for Microsoft.