Adamas Trust Announces Preferred Stock Dividend Payment

Adamas Trust, Inc. has declared a dividend for its 6.875% Series F Cumulative Redeemable Preferred Stock, as reported by Seeking Alpha. This announcement means that holders of these specific preferred shares will receive a payment of $0.4297 per share. The distribution is scheduled for August 1, 2023. To be eligible for this payment, investors must be recorded as shareholders by the close of business on July 14, 2023. The ex-dividend date, which is the day on which shares trade without the right to receive the forthcoming dividend, has been set for July 13, 2023. Companies often issue preferred stock to raise capital. These shares typically offer a fixed dividend rate, making them attractive to investors seeking predictable income streams. The 6.875% figure associated with Adamas Trust's Series F preferred stock indicates the annual dividend yield based on the par value of the shares. Preferred stock dividends are usually paid before common stock dividends. In the event of a company's liquidation, preferred shareholders also generally have a higher claim on assets than common shareholders, though they rank below bondholders. This preferential treatment contributes to their appeal as a relatively stable investment option. Investors who purchased the preferred shares on or after the July 13th ex-dividend date will not be entitled to this particular dividend payment. Conversely, those who own the shares prior to this date will receive the distribution, even if they sell their shares afterward but before the payment date. Understanding these dates is crucial for investors to ensure they receive expected dividend income.