That figure for the cost of yearly annual dividends on the preferred shares is not right. I had a look to make sure since 22 million $ sounded too low, and i was just going from an article i read in the globe and mail. Even analysts get the financials wrong sometimes.
There are from the latest M, D and A :
10,045,872 Series 1 ( A) = approx 10.6 million$ divvy cost annual
6,062,128 Series 2 ( B) = approx 7.58 million $ divvy cost annual
13,424,153 Series 3,5 ,7= aprox. 22.5 million $ divvy cost annual
Total savings yearly would be over 41 million $ on all the series of preferred. Sorry for the misinformation in the previous post.