Silvergate suspends payment of dividend on preferred stock

Silvergate suspends payment of dividend on preferred stock

Market Analysis
January 29, 2023 by secret
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[ad_1] Crypto-friendly bank Silvergate announced its suspended payment of dividends on its series A preferred stock. The company’s shares fell more than 11% pre-market after the announcement. Silvergate reported a $1 billion loss in the fourth quarter and also cut its staff by 20% amid the crypto bear market and impact of FTX collapse. Silvergate,