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Redeemable Preferred Stocks | 3 Months Ended
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Mar. 31, 2021
Equity [Abstract] |
Redeemable Preferred Stocks | 8. Redeemable Preferred Stocks Series E and Series F Redeemable Preferred As of March 31, 2021, the Series E Redeemable Preferred had a 14% annual dividend rate and a participating right in dividends and liquidating distributions equal to 303,646 shares of common stock (participation rights value). Dividends accrue semi-annually in arrears and are compounded. Pursuant to the terms of the Series E Redeemable Preferred, the annual dividend rate increased 0.50% in April 2021 and will increase (a) by an additional 0.50% in April 2022 and (b) by an additional 1.0% in April 2023. The Series E Redeemable Preferred contains redemption features and a participation rights value that are being accounted for as derivative instruments and have been bifurcated from the Series E Redeemable Preferred as discussed in Note 6. As of March 31, 2021, the Series F Redeemable Preferred has voting rights to vote as a single class on all matters which the common stock have the right to vote and is entitled to a number of votes equal to 456,225 shares of our common stock. Changes in our Series E and Series F Redeemable Preferred are as follows:
|  | Series E Redeemable Preferred |
|  | Shares |  |  | Amount |
|  | (Dollars In Thousands) |
Balance at December 31, 2020 |  |  | 139,768 |  |  | $ | 272,101 |
Accretion relating to liquidation preference on preferred stock |  |  | — |  |  |  | 273 |
Accretion for discount and issuance costs on preferred stock |  |  | — |  |  |  | 238 |
Accumulated dividends |  |  | — |  |  |  | 9,511 |
Balance at March 31, 2021 |  |  | 139,768 |  |  | $ | 282,123 |

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