Interest plus preferred dividends vs base rent
Company: Applied Digital
The claim, verbatim
In the August quarter, interest expense and preferred dividends combined were 2.6 times base rent.
Source (primary)
Applied Digital (NASDAQ: APLD) Has $36 Billion In Leases But A Brutal Capital Stack Keeps Bulls At Bay - Foreign Policy Journal (-, news_article)
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Quote: “In the August quarter, interest expense and preferred dividends combined reached 2.6 times the company's base rent”
How we checked this
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Additional evidence
confirms Applied Digital (NASDAQ: APLD) Has $36 Billion In Leases But A Brutal Capital Stack Keeps Bulls At Bay - Foreign Policy Journal
Quote: “In the August quarter, interest expense and preferred dividends combined reached 2.6 times the company's base rent”