Cumulative preferred stock

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Related to Cumulative Preferred Shares: preferred stock

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.
References in periodicals archive ?
The Series A Cumulative Preferred Shares are perpetual, non-callable for five years, and have a liquidation preference of USD 25.00 per share.
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.
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.
Additionally, the board authorised dividends of USD0.70 and USD0.4609 per share on the company's the series K cumulative redeemable preferred share and series L cumulative preferred shares for the period commencing 15 July 2016 and ending on 14 October 2016.
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.
Bancroft Fund Ltd (NYSE MKT:BCV) revealed on Friday that its board of trustees priced an offering of 1.2m of the company's 5.375% series A cumulative preferred shares with a total liquidation value of USD30m.
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
The Gabelli Dividend & Income Trust's (NYSE:GDV) board of directors has authorised the pricing of an offering of 4m 5.25% series G cumulative preferred shares with a total liquidation value of USD100m, the company stated on Wednesday.
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.
Public Storage (NYSE:PSA) stated on Wednesday that it will redeem all outstanding depositary shares reflecting interests in its 6.35% cumulative preferred shares, series R (NYSE:PSAPrR) at USD25 per depositary share plus accrued dividends from 1 July 2016 until the date of redemption on 26 July 2016.
Public Storage plans to use part of the funds raised through the offering to redeem its 7.0% cumulative preferred shares, Series N and for other general corporate purposes.

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