Noncumulative preferred stock


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Related to Noncumulative preferred stock: preferred stock

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 ?
- 5.350% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series D, payable November 15, 2018, to holders of record on November 2, 2018.
There are cases where noncumulative preferred stock has been valued at substantially less than par value |Behrend, 20 TCM 327, Estate of Elizabeth Lee, 69 T.C.
(NYSE:C) has said that it is planning to redeem, in whole, all USD480.0m aggregate liquidation preference of depositary shares representing interests in its 6.875 percent series L noncumulative preferred stock.
Therefore, today, Fitch is reclassifying the debt level to noncumulative preferred stock and downgrading the debt level rating on CUSIP 313586810 from 'AA-' to 'C'/'RR6'
is redeeming, in whole, all $96.8 million aggregate liquidation preference of Depositary Shares representing interests in its 8.125% Series AA Noncumulative Preferred Stock (ticker "C PR P") (the "Preferred Stock").
Therefore, the parent would usually select noncumulative preferred stock without value supporting features (such as a conversion privilege into the common stock or a liquidation right).
is redeeming $121.3 million aggregate liquidation preference of Depositary Shares representing interests in its 8.40% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series E.
5.80% Noncumulative Preferred Stock, Series C, payable October 23, 2017, to holders of record on October 12, 2017.
-- 5.80% Noncumulative Preferred Stock, Series C, payable April 23, 2018, to holders of record on April 12, 2018.
(NYSE : C) has said that it is planning to redeem in full approximately USD121.3m aggregate liquidation preference of depositary shares representing interests in its 8.40 percent series E fixed rate/floating rate noncumulative preferred stock.
is redeeming all $96.8 million aggregate liquidation preference of Depositary Shares representing interests in its 8.125% Series AA Noncumulative Preferred Stock.
5.80% Noncumulative Preferred Stock, Series C, payable April 24, 2017, to holders of record on April 13, 2017.