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.

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.
References in periodicals archive ?
A quarterly dividend of USD0.25277777 per share will be paid on the company's floating rate non-cumulative preferred stock, series A, with a liquidation preference of USD25 per share (NYSE:MET PRA).
The board of directors has declared a dividend of USD312.50 per share (equivalent to USD12.50 per depository share) on the company's outstanding series D fixed-to-floating rate perpetual non-cumulative preferred stock and a dividend of USD15.3125 per share (equivalent to USD0.382813 per depository share) on its series E fixed-to-floating rate perpetual non-cumulative preferred stock, both payable on September 16, 2019 to holders of record as on September 3, 2019, for the period commencing on (and including) June 15, 2019 to (but excluding) September 15, 2019.
Morgan Stanley declared a regular dividend on the outstanding shares of each of the following preferred stock issues: Floating Rate Non-Cumulative Preferred Stock, Series A - $250.00 per share (equivalent to $0.25000 per Depositary Share).
The quarterly dividend of $0.3672 per share of 5.875% Non-Cumulative Preferred Stock, Series A (NYSE: AGM.PR.A), $0.4297 per share of 6.875% Non-Cumulative Preferred Stock, Series B (NYSE: AGM.PR.B), and $0.375 per share of 6.000% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series C (NYSE: AGM.PR.C), is for the period from but not including July 17, 2018 to and including October 17, 2018.
The company has declared a dividends of USD231.77 per share of Floating Rate Non-Cumulative Preferred Stock, Series A; USD387.50 per share of 6.20 percent Non-Cumulative Preferred Stock, Series B; USD247.22 per share of Floating Rate Non-Cumulative Preferred Stock, Series C; and USD247.22 per share of Floating Rate Non-Cumulative Preferred Stock, Series D.
Fannie Mae agreed to sell to "qualified institutional buyers" an aggregate of $5 billion in two placements of non-cumulative preferred stock.
Also, the board authorised a quarterly dividend on each of the company's three classes of preferred stock, namely USD0.3672 per share on its 5.875% non-cumulative preferred stock, series A (NYSE:AGM.PR.A), USD0.375 per share on its 6.000% fixed-to-floating rate non-cumulative preferred stock, series C (NYSE:AGM.PR.C), and USD0.35625 per share on its 5.700% non-cumulative preferred stock, series D (NYSE:AGM.PR.D).
The company has declared a dividend of USD252.78 per share (equivalent to USD0.25278 per depository share) on its series A floating rate non-cumulative preferred stock; a dividend of USD25.00 per share on its 10.0 percent series C non-cumulative non-voting perpetual preferred stock; a dividend of USD445.31 per share (equivalent to USD0.44531 per depository share) on its series E fixed-to-floating rate non-cumulative preferred stock and a dividend of USD429.69 per share (equivalent to USD0.42969 per depository share) on its Series F fixed-to-floating rate non-cumulative preferred stock.
Morgan Stanley today declared a regular dividend on the outstanding shares of each of the following preferred stock issues: Floating Rate Non-Cumulative Preferred Stock, Series A - $255.56 per share (equivalent to $0.25556 per Depositary Share) 10 Percent Non-Cumulative Non-Voting Perpetual Preferred Stock, Series C - $25.00 per share Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series E - $445.31 per share (equivalent to $0.44531 per Depositary Share) Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series F - $429.69 per share (equivalent to $0.42969 per Depositary Share)
20,700,000 shares of Floating Rate Non-Cumulative Preferred Stock, Series F (ticker symbol: HUSI-PR F);
Summary: Moody's Investors Service assigned shelf ratings and a non-cumulative preferred stock rating to Cullen/Frost Bankers, Inc.

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