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Preferred Stock
6 Months Ended
Jun. 30, 2020
Equity [Abstract]  
Preferred Stock

Note 7 – Preferred Stock

Preferred Stock Dividends

 

As of June 30, 2020, we have accrued cumulative preferred dividends of $22.9 million on our Series A Preferred Stock (“Series A Preferred”), which will be paid on August 14, 2020. During the three and six months ended June 30, 2020, we paid $22.9 million and $45.8 million of dividends to preferred shareholders, and recorded deemed dividends of $9.2 million and $18.2 million attributable to accretion of the preferred discount resulting from the beneficial conversion feature accounting. Such accretion is included in the book value of the Series A Preferred.