SunEdison announced that its Board of Directors has declared a quarterly dividend on the company's Series A Perpetual Convertible Preferred Stock. The dividend will be paid in cash in the prorated amount of $18.75 per share, representing an annualized amount of $67.50 per share, and is payable on December 1, 2015 to shareholders of record as of the close of business on November 15, 2015.
In the third quarter of 2015, SunEdison sold only 41MW of solar projects. The gross margin was only 9.6%. Performance of its two yieldco vehicles, TerraForm Power and TerraForm Global, was not as well as it had expected. The financial results were overall commented “bad” or “terrible.”
The SUNE stock listed on NYSE has been dropping for days. The dividend on Preferred Stock is also lower than expectation. The company has announced to restructure itself for more efficient and valuable business.