cumulative preferred stock

Preferred stock that must receive dividends in full before common shareholders may receive any dividend.

• If the corporation omits a dividend in a particular year or period, it is carried over to the next year or period and must be paid before the common shareholders receive any payment.

— Also termed cumulative stock; cumulative preference share. [Cases: Corporations 156. C.J.S. Corporations § 158.]

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法律翻译Johnny，毕业于新加坡知名法学院，专注翻译各类与劳动、雇佣和福利有关的法律文件。