Cumulative preferred stock

(redirected from cumulative preferred)
Also found in: Dictionary, Thesaurus.
Related to cumulative preferred: Non-Cumulative Preference Shares

Cumulative preferred stock

Preferred stock whose dividends accrue, should the issuer not make timely dividend payments. Related: Non-cumulative preferred stock.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
The Board declared a dividend of USD 0.4609 per diluted share for the Company's 7.375% Series G Cumulative Preferred Stock for the second quarter ending June 30, 2019.
The Board declared a dividend of USD 0.46875 per diluted share for the Company's 7.50% Series H Cumulative Preferred Stock for the second quarter ending June 30, 2019.
Series A cumulative preferred shareholders of record as of 13 June 2019 will receive the dividend payment on 1 July 2019.
The Series A Cumulative Preferred Shares trade on the New York Stock Exchange under the symbol NCZ PR A and are rated "AAA' by Fitch Ratings.
Allianz Global Investors US LLC, the investment manager of AllianzGI Convertible & Income Fund (NYSE: NCV) has announced it has offered 4 million 5.625% Series A Cumulative Preferred Shares with an aggregate liquidation value of USD 100 million, the company said.
The Series A Cumulative Preferred Shares are perpetual, non-callable for five years, and have a liquidation preference of USD 25.00 per share.
Global Banking News-September 11, 2018-AllianzGI Convertible & Income Fund II offers USD 109m of 5.50% Series A cumulative preferred shares
Additionally, the board approved fourth quarter dividends of USD0.5281 per diluted share on the company's 8.45% series D cumulative preferred stock that equates to an annual rate of USD2.1125 per share; USD0.4609 per diluted share on its 7.375% series F cumulative preferred stock that equates to an annual rate of USD1.8438 per share; USD0.4609 per diluted share on its 7.375% series G cumulative preferred stock, which is equal to an annual rate of USD1.8438 per share.
Further, dividends of USD0.46875 per diluted share on the company's 7.50% series H cumulative preferred stock, which equals an annual rate of USD1.875 per share; and USD0.229167 per diluted share on its 7.50% series I cumulative preferred stock, This dividend is pro-rated for the number of days the series I cumulative preferred stock was outstanding during the quarter and it equates to an annual rate of USD1.875 per share.

Full browser ?