Category: Preference Shares

Feb 16

Who’s afraid of the big bad bear?

An air of despondency hangs over the City of London, with security markets in steady decline, dragged down by the collapse in international commodity prices. In Aberdeen, Britain’s oil capital, the atmosphere is closer to panic. Property prices are tumbling, and many who want to sell are finding no buyers at all. In late January, …

Continue reading »

Permanent link to this article: http://www.goldenguinea.com/whos-afraid-of-the-big-bad-bear/

Aug 10

In Praise of Preference Shares

Preference shares are today a relatively neglected instrument of corporate finance. The current conventional wisdom of the City is that they offer none of the upside of ordinary shares and none of the tax advantages of loan notes. I have an alternative perspective. True, preference share dividends are not tax deductible, unlike loan interest payments. …

Continue reading »

Permanent link to this article: http://www.goldenguinea.com/in-praise-of-preference-shares/