Northland notes that CleanSpark (CLSK) announced in an 8K filed after the close yesterday the elimination of its 2% EBITDA-linked preferred dividend through a one-time, roughly $30M payout. Eliminating the 2% quarterly dividend tied to EBITDA, and replacing it with a one-time special dividend of about $17.14 per share with no further ongoing dividend obligations is “a smart move to make now and may suggest CLSK is proactively optimizing its capital structure ahead of a potential lease,” says the analyst, who has an Outperform rating and $21 price target on CleanSpark shares.
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