dividend credit rule

dividend-credit rule. The principle that a corporate reserve fund amassed from unpaid dividends on preferred stock must be used to pay subsequent dividends on preferred stock before dividend payments on common stock. — Also termed cast-iron-pipe doctrine. [Cases: Corporations 156. C.J.S. Corporations § 158.]

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词条贡献者

资深译员Sheldon，毕业于亚洲顶尖的高级翻译学院，擅长翻译有关零售和消费品领域的法律文件。