G. Innuendo

Freeport-McMoRan: Suspends Dividend, Slashes Targets

So what's the story on FCX M (preferred convertible). It is senior to the common, mandatory converts to common in about 18 months. Is that dividend suspended as well? The co's press release specifically says "common stock" when referring to the dividend; however, their SEC filings suggest they would have to kill both common and preferred dividends to meet their 700 million plus saving goal. Someone give us a clue here.