noncumulative preferred stock

Preferred stock that does not have to be paid dividends that are in arrears.

• Once a periodic dividend is omitted, it will not be paid.

— Also termed noncumulative stock. [Cases: Corporations 156. C.J.S. Corporations § 158.]

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词条贡献者

译者Miranda，毕业于英国顶尖的高级翻译学院，擅长翻译各种与债务重组与公司清算/破产相关的法律文件。