Preferred Stock

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Preferred Stock

 

a stock that pays a fixed return, as opposed to common stock, for which the dividend varies according to the profits of the joint-stock company.

References in periodicals archive ?
Where a company is unable to borrow additional funds or issue new debt securities--whether because of concerns over the effect on credit ratings, debt covenant restrictions, or regulatory requirements--and does not wish to dilute earnings per share by issuing additional common shares, a preferred share issuance is the only viable course.
Commenting on the redemption, Daniel Valot, chairman and chief executive officer, stated: "The redemption of the preferred shares reflects our confidence in the recovery of the results of Total Petroleum.
The company expects that after the 5 years holding period, set to expire March 31, 2011, the majority shareholders will not exchange their preferred shares for common shares since the preferred shares carry the same voting rights as common shares.
14 was declared on the cumulative redeemable perpetual first preferred shares series K in the amount of $9,600 per share.
80% Series A-3 Cumulative Preferred Shares ("Series A-3 Preferred Shares") and 7.
Charles Johnston, QualMark's President and CEO, stated: "This event follows the conversion of the Series B preferred shares that occurred two weeks prior and completely eliminates all outstanding preferred stock on the QualMark balance sheet.
The conversion of the Series B preferred shares also propels the Company one step closer to meeting listing requirements of a major exchange.
The net proceeds from the placement of the Series B Convertible Preferred Shares to the Company after payment of the 5% cash commission to Axiom and the expenses of the offering, are estimated to be approximately $14.
The convertible preferred shares would be exchangeable, at the discretion of the holder, into the Company's ordinary shares, and would share voting rights with ordinary shares.
The Preferred Shares will not entitle their holders to vote (except in certain limited circumstances where they are required by statute to vote as a separate class), are not convertible into common shares or other securities of the Corporation, are not redeemable except at the option of the Corporation, and will pay a 6.
The Company's purpose in creating the new preferred shares is to provide an incentive to the Company's majority shareholder, BG Capital Group Ltd.
CFS) announces that all outstanding Preferred Shares of CFS were redeemed today at a price of $3.

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