common stock

A class of stock entitling the holder to vote on corporate matters, to receive dividends after other claims and dividends have been paid (esp. to preferred shareholders), and to share in assets upon liquidation.

• Common stock is often called capital stock if it is the corporation’s only class of stock outstanding.

— Also termed ordinary shares. Cf. preferred stock. [Cases: Corporations 155. C.J.S. Corporations §§ 294, 302–303.]

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