Noncumulative preferred stock

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Noncumulative preferred stock

Preferred stock whose holders must forgo dividend payments when the company misses a dividend payment. Related: Cumulative preferred stock.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Noncumulative Preferred Stock

Preferred stock for which the publicly-traded company does not need to pay all dividends. If a company misses a dividend payment for any reason, it no longer owes the dividend to noncumulative preferred stockholders. That is, all dividends that were "skipped" are treated as if they never existed. Noncumulative preferred stocks are rare because they are unattractive to preferred stock investors.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
SCPLC: Aa3 senior unsecured debt rating, (P)Aa3 senior unsecured MTN program rating, A2 subordinated debt rating, (P)A2 subordinated MTN program rating, Baa1(hyb) junior subordinated debt rating, and Baa2(hyb) non-cumulative preference share rating.
non-cumulative preference share rating at Baa2(hyb), and affirmed its
In addition, Aspen has said that its board of directors has declared a dividend on its newly issued 5.625 percent perpetual non-cumulative preference shares. The board has declared a dividend of USD191.40 per share (equivalent to USD0.1914 per depositary share), payable on October 1, 2019 to holders of record as on September 15, 2019.
Release date- 14082019 - AM Best has assigned a Long-Term Issue Credit Rating of 'bb+' to the USD 250 million 5.625% perpetual non-cumulative preference shares issued by Aspen Insurance Holdings Limited (Aspen) (Bermuda).
Chicago: Fitch Ratings has assigned a 'BB+' rating to Enstar Group Limited's (Enstar) new issuance of perpetual non-cumulative preference shares, series E.
To meet the shortfall in the MCR prescribed by SBP for December 31, 2012 and December 31, 2013, JS Bank has decided to issue un-listed, convertible, perpetual, irredeemable, non-cumulative preference shares value Rs1.5 billion.
New Delhi, Jan.9 ( ANI ): The Union Cabinet on Thursday gave its approval for conversion of Perpetual Non-Cumulative Preference Shares (PNCPS) held by Government of India (GOI) in Indian Bank, UCO Bank and Vijaya Bank
31 to holders of record of its Fixed/Floating Perpetual Non-Cumulative Preference Shares as of the close of business on Dec.
Athene Holding Ltd (NYSE:ATH) said on Wednesday that it will pay a dividend of USD485.07 per share on its 6.35% fixed-to-floating rate perpetual non-cumulative preference shares, series A, equivalent to USD0.48507 per depositary share (NYSE:ATHPrA), each representing a 1/1,000th interest in a preference share.
HAMILTON: The Board of Directors of Aspen Insurance Holdings Limited declared a dividend on its 5.95% Fixed-to-Floating Rate Perpetual Non-Cumulative Preference Shares with a $25 liquidation preference per share of $0.3719 per 5.95% Preference Share.
(NYSE: VR) has commenced an underwritten public offering of depositary shares, each of which represents a 1/1,000th interest in a share of its Non-Cumulative Preference Shares, Series B, USD 0.175 par value and USD 25,000 liquidation preference per share (equivalent to USD 25 per depositary share), the company said.

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