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Non-Tech : Dorsey Wright & Associates. Point and Figure

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To: Mr. BSL who wrote (7561)4/27/2000 8:09:00 PM
From: Ditchdigger  Read Replies (1) of 9427
 
Thanks Dick,greatly appreciated,just bought CHK yesterday, but have traded it in the past..I'm not much on cyphering out these reports,,need to get a bit more info on how the $10 mil factored into earnings...Do we deduct it to get the real EPS? I think the real number is .17/sh,,taking out the $10mm
"Preferred Stock Retirements

During the first four months of 2000, Chesapeake has enhanced its balance sheet by retiring 18.4% of its preferred stock. In these transactions, the company has exchanged 11.9 million shares of its common stock for $46.3 million of its preferred stock (845,000 shares at a face value of $50 per share plus accrued dividends). By retiring this preferred stock at a discount to face value, Chesapeake has increased common stockholders' value by $12.1 million, of which $10.4 million was included in this quarter's earnings available to common shareholders."
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