Cumulative preferred stock

(redirected from Cumulative Preferred Share)
Also found in: Dictionary, Thesaurus.

Cumulative preferred stock

Preferred stock whose dividends accrue, should the issuer not make timely dividend payments. Related: Non-cumulative preferred stock.

Cumulative Preferred Stock

Preferred stock for which the publicly-traded company must pay all dividends. If a company misses a dividend payment for any reason, it still owes it to cumulative preferred stockholders. That is, all dividends that were "skipped" must be paid to cumulative preferred stockholders before any dividends are paid to common stock holders. This contrasts with non-cumulative preferred stock, for which stockholders must forgo dividend payments that are missed. Most preferred stock is cumulative preferred stock.

Mentioned in ?

References in periodicals archive ?

09-Aug-19 Cumulative Preferred Shares Confirmed Pfd-2 (high) Stb CA

DBRS Confirms Ratings on Canadian Utilities Limited at 'A,' R-1 (low) and Pfd-2 (high), Stable Utilities & Independent Power

The Series A Cumulative Preferred Shares are perpetual, non-callable for five years, and have a liquidation preference of USD 25.00 per share.

The Series A Cumulative Preferred Shares have received a long-term rating of "AAA" from Fitch Ratings.

AllianzGI Convertible & Income Fund offers 5.625% Series A cumulative preferred shares valued at USD 100m

Issued on 11 September 2018 at USD25.00 per share, the 4,360,000 Series A Cumulative Preferred Shares pay distributions quarterly and this distribution represents the accrual period from 1 April 2019 to 30 June 2019.

AllianzGI Convertible & Income Fund II announces quarterly distribution of USD0.34375 per share on Series A cumulative preferred shares

6 May 2013 -- The board of trustees of the Gamco Global Gold, Natural Resources & Income Trust by Gabelli (NYSE: GGN) has announced an underwritten offering of four million 5.00% series B Cumulative Preferred Shares at a public offering price of USD100m.

The fund expects to use the proceeds from the offering to redeem the remaining outstanding shares of the Fund's 6.625% series A Cumulative Preferred Shares. Amounts in excess of the redemption amount of the series A Preferred Shares are expected to be used for investment purposes consistent with the Fund's investment objectives.

GGN plans offering of USD100m of 5.00% preferred shares

13 March 2103 -- The board of Trustees of the GAMCO Global Gold, Natural Resources & Income Trust by Gabelli (NYSE: GGN) has authorized the partial redemption of 2,000,000 of its outstanding 6.625% series A Cumulative Preferred Shares.

GAMCO announces partial redemption of preferred shares

The trust said it plans to redeem all of its outstanding auction rate cumulative preferred shares at their respective liquidation preferences, together with accrued and unpaid dividends, if any, to the redemption date.

-Invesco Van Kampen Senior Income Trust prices USD 125m of preferred shares

The Trust plans to redeem all of its outstanding auction rate cumulative preferred shares (ARPS) at their respective liquidation preferences (sometimes referred to as "at par), together with accrued and unpaid dividends, if any, to the redemption date.

-Invesco Van Kampen Senior Income Trust prices variable rate term preferred shares

BANKING AND CREDIT NEWS-October 26, 2012--Invesco Van Kampen Senior Income Trust Announces Anticipated Placement of Private offering of Variable Rate Term Preferred Shares and Redemptions of Auction Rate Cumulative Preferred Shares at Par(C)2012 M2 COMMUNICATIONS http://www.m2.com

-Invesco Van Kampen Senior Income Trust Announces Anticipated Placement of Private offering of Variable Rate Term Preferred Shares and Redemptions of Auction Rate Cumulative Preferred Shares at Par

The proceeds to Aimco will be funnelled into the redemption of all of its class U cumulative preferred shares outstanding, for which it will use also existing cash resources.