Financing ·
Hecla calls Series B preferred stock for redemption at $50.68 per share, ending conversion rights
HLHecla Mining Co
Hecla Mining Company announced the redemption of all outstanding shares of its Series B Cumulative Convertible Preferred Stock on December 11, 2026. The total redemption price is $50.6806 per share, comprising a $50.00 base price plus $0.6806 in accrued dividends. Based on 150,736 shares outstanding, the cash cost is approximately $7.64 million. Holders may convert their preferred shares into common stock at a rate of 3.2154 shares per preferred share until December 10, 2026; converted shares forfeit accrued dividends. Hecla intends to fund the redemption from cash on hand and will not declare further quarterly dividends before the redemption date. The company is the largest silver producer in the United States and Canada.