Second Preferred

second preferred

A class of preferred stock that has a subordinate claim to dividends and assets relative to another class of preferred stock of the same issuer. Compare prior preferred.

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Second Preferred

A preferred stock over which another preferred stock has priority. This occurs when a publicly-traded company has more than one class of preferred stock. Thus, while all preferred stock receives dividends before common stock, a second stock receives dividends after other preferred stock. See also: Prior preferred.