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 classic literature ?
Thy lover lies wounded in this castle thy preferred lover.
It was known as a fact that the Most Serene Don John of Austria, natural brother of our good king Don Philip, was coming as commander-in-chief of the allied forces, and rumours were abroad of the vast warlike preparations which were being made, all which stirred my heart and filled me with a longing to take part in the campaign which was expected; and though I had reason to believe, and almost certain promises, that on the first opportunity that presented itself I should be promoted to be captain, I preferred to leave all and betake myself, as I did, to Italy; and it was my good fortune that Don John had just arrived at Genoa, and was going on to Naples to join the Venetian fleet, as he afterwards did at Messina.
It suited Mary best to think Henrietta the one preferred on the very account of Charles Hayter, whose pretensions she wished to see put an end to.
From Joppa, Jerusalem, the River Jordan, the Sea of Tiberias, Nazareth, Bethany, Bethlehem, and other points of interest in the Holy Land can be visited, and here those who may have preferred to make the journey from Beirut through the country, passing through Damascus, Galilee, Capernaum, Samaria, and by the River Jordan and Sea of Tiberias, can rejoin the steamer.
He would have preferred to use his noose, but the foliage surrounding the huge cat precluded the possibility of an accurate throw with the rope.
"It should have been sufficient for her that her benefactor preferred to remain anonymous."
The next comer proved to be King Renard of Foxville; or King Dox, as he preferred to be called.
Dorothy packed the rest of the food back into the pail, so as not to be wasteful of good things, and the yellow hen forgot her dignity far enough to pick up all of the scattered crumbs, which she ate rather greedily, although she had so lately pretended to despise the things that Dorothy preferred as food.
Brooks notes that individual investors can also get new-issued preferreds at no cost.
That's because preferred stock could well be the fixed-income answer you've been looking for.
The possible effects are not limited to companies that issue innovative financial instruments like "funny" preferreds or puttable common stock.
1 ("Floating-Rate Preferreds Is Vanishing in Face of Tax Bills Before Congress").