Noncumulative preferred stock

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Related to non-cumulative: cumulative preferred, Accumulated Dividends

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 ?
In addition, the company has declared a dividend of USD414.06 per share (equivalent to USD0.41406 per depository share) on its 6.625 percent series G non-cumulative preferred stock; a dividend of USD681.25 per share (equivalent to USD27.25000 per depository share) on its series H fixed-to-floating rate non-cumulative preferred stock; a dividend of USD398.44 per share (equivalent to USD0.39844 per depository share) on its series I fixed-to-floating rate non-cumulative preferred stock; a dividend of USD693.75 per share (equivalent to USD27.75000 per depository share) on its series J fixed-to-floating rate non-cumulative preferred stock and a dividend of USD365.63 per share (equivalent to USD0.36563 per depository share) on its series K fixed-to-floating rate non-cumulative preferred stock.
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).
The Board of Directors has also declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D (NYSE: CUBIPrD) of $0.40625 per share.
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.
Previously, the agency had slashed the rating on the non-cumulative instruments to Caa1, on review for possible downgrade, as well as the rating on the cumulative hybrid instruments to Ba3, with a "negative" outlook.
The $2.5 billion series of 5.375 percent Non-Cumulative Convertible Series 2004-1 Preferred Stock has a stated value and liquidation preference of $100,000 per share and is convertible by holders into shares of Fannie Mae common stock at a conversion price of $94.31.
A dividend of USD 351.5625 per share on BB&T's Series E Non-Cumulative Perpetual Preferred Stock (NYSE: BBT PrE)
A dividend of $351.5625 per share (equivalent to $0.3515625 per depositary share or 1/1,000th interest per share) on BB&T's Series E Non-Cumulative Perpetual Preferred Stock (NYSE: BBT PrE)
In addition, the company has declared a quarterly cash dividend of USD15.625 per share (equivalent to USD0.390625 per depository share) on its 6.25 percent series C fixed rate non-cumulative perpetual preferred stock and a quarterly cash dividend of USD16.75 per share (equivalent to USD0.41875 per depository share) on its 6.70 percent series D fixed rate non-cumulative perpetual preferred stock.
CHARLOTTE, N.C: The Board of Directors of Bank of America Corporation authorized a regular quarterly cash dividend of $18.125 per share on the 7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L.

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