 EuroDry Ltd. NASDAQ: EDRY, the Company or EuroDry, an owner and operator of drybulk vessels and provider of seaborne transportation for drybulk cargoes, announced today that it agreed to redeem approximately 4.3 million of its Series B Preferred Shares with a simultaneous reduction of the dividend rate for the remaining outstanding shares. In parallel with the redemption, the holders of the remaining Series B Preferred Shares agreed to reduce the annual dividend of the shares to 9.25 until January 2021. Aristides Pittas, Chairman and CEO of Euroseas commented: We are very pleased to announce the repayment of 4.3 million of face value of our preferred shares outstanding and, equally importantly, the agreement to reduce the dividend rate of the remaining outstanding shares from 12 to 9.25 for the next 18 months. 