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.]

---

词条贡献者

译员Shifang，毕业于国内一流的高级翻译学院，专注翻译各种与员工福利与高管薪酬有关的法律文件。