{"id":544675,"date":"2023-01-28T07:48:53","date_gmt":"2023-01-28T04:48:53","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/silvergate-suspends-dividends-to-preserve-highly-liquid-balance-sheet\/"},"modified":"2023-01-28T07:48:53","modified_gmt":"2023-01-28T04:48:53","slug":"silvergate-suspends-dividends-to-preserve-highly-liquid-balance-sheet","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/silvergate-suspends-dividends-to-preserve-highly-liquid-balance-sheet\/","title":{"rendered":"# Silvergate suspends dividends to preserve &#8216;highly liquid balance sheet&#8217;"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a26e0858d3fa\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a26e0858d3fa\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/silvergate-suspends-dividends-to-preserve-highly-liquid-balance-sheet\/#%E2%80%9D_Silvergate_suspends_dividends_to_preserve_%E2%80%98highly_liquid_balance_sheet_%E2%80%9C\" >&#8221; Silvergate suspends dividends to preserve &#8216;highly liquid balance sheet&#8217; &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Silvergate_suspends_dividends_to_preserve_%E2%80%98highly_liquid_balance_sheet_%E2%80%9C\"><\/span>&#8221; Silvergate suspends dividends to preserve &#8216;highly liquid balance sheet&#8217; &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvNWQ1YTNiYzEtZmRlYS00OGQ1LWFlNDItYWQ1OTJkYWJmMzA2LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a4050f8>California-based crypto bank Silvergate has suspended dividend payouts to preserve its \u201chighly liquid balance sheet.\u201d<\/p>\n<p>In a Jan. 27 announcement, the firm <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.businesswire.com\/news\/home\/20230126006026\/en\/Silvergate-Suspends-Series-A-Preferred-Stock-Dividend\">stated<\/a> that it is halting \u201cthe payment of dividends on its 5.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">Series<\/a> A, in order to preserve capital.\u201d<\/p>\n<p>The company outlined that it made the decision so that it can weather the storm of crypto winter, but did stress that it still maintains a \u201ccash position in excess of its digital asset customer-related deposits.\u201d<\/p>\n<blockquote><p>\u201cThis decision reflects the Company\u2019s focus on maintaining a highly liquid balance sheet with a strong capital position as it navigates recent volatility in the digital asset industry.\u201d <\/p><\/blockquote>\n<p>\u201cThe Company\u2019s Board of Directors will re-evaluate the payment of quarterly dividends as market conditions evolve,\u201d the firm added. <\/p>\n<p>The announcement comes just 11 days after the company posted a hefty $1 billion net loss in its Q4 2022 report on Jan. 17. Silvergate attributed its poor performance to the overall sour market sentiment which has seen investors opt for a \u201crisk-off\u201d <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roach over the past year.\u00a0 <\/p>\n<p>In the Q4 report, Silvegate CEO Alan Lane also used similar language to the latest announcement, noting that the company is still bullish on the crypto sector but is working to maintain \u201ca highly liquid balance sheet with a strong capital position.\u201d<\/p>\n<p>The <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> of suspended dividends on Friday was met with notable losses in both its preferred (SI-PA) and common (SI) stock prices. <\/p>\n<p>According to data from Yahoo Finance, the price of SI-PA <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/finance.yahoo.com\/quote\/SI-PA\/\">dropped<\/a> by 22.71% to $8.85, while SI <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/finance.yahoo.com\/quote\/SI\/\">declined<\/a> by 3.76% to sit at $13.58 by market close. <\/p>\n<p>Zooming out also paints a grim picture for SI-PA and SI, with the share prices declining by 60% and 87.46% over the past 12 months.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>U.S. home-loan banks lent billions of dollars to crypto banks: Report<\/em><\/strong><\/p>\n<p>This is not the only action the firm has taken to shore up its coffers this month, after it announced on Jan. 5 that it had laid off 200 employees \u2014 representing 40% of its headcount \u2014 in a bid to keep afloat. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/silvergate-suspends-dividends-to-preserve-highly-liquid-balance-sheet\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Silvergate suspends dividends to preserve &#8216;highly liquid balance sheet&#8217; &#8220; California-based crypto bank Silvergate has suspended dividend payouts to preserve its \u201chighly liquid balance sheet.\u201d In a Jan. 27 announcement, the firm stated that it is halting \u201cthe payment of dividends on its 5.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, in order&#8230;<\/p>\n","protected":false},"author":1,"featured_media":544676,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/5d5a3bc1-fdea-48d5-ae42-ad592dabf306.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74888,75566,71939,117,70359],"class_list":["post-544675","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-banking","tag-report","tag-banks","tag-business","tag-stocks"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/544675","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=544675"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/544675\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/544676"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=544675"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=544675"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=544675"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}