For example, Series 2 First Preferred shares bought a few years ago at $1.00 per share would have been converted to amalgamated corporation shares that were converted to Class A shares. My statements show a conversion of 0.09517 meaning 1000 original shares with a purchase valued of $1000 gets you 95.17 new shares. At $9.90 each, the value of the new shares is $942.18. That's a loss of 5.7% or most of one years'returns from the MIC before the conversion.
The current distribution rate for Class A shares is cited as 0.036400 per month, or about 4.4% per year.