Prior-preferred stock

Prior-preferred stock

Preferred stock that has a higher claim on all dividends and assets in liquidation than claims of other preferred stock.
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Prior Preferred Stock

A preferred stock that has priority over other preferred stock. This occurs when a publicly-traded company has more than one class of preferred stock. Thus, while all preferred stock receives dividends before common stock, prior preferred stock receives dividends before other preferred stock. It is also called a preference stock.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved