Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
callable preferred stock
Preferred stock that may be repurchased by the issuing corporation at a prestated price, usu. at or slightly above par value.
callable preferred stock.
See STOCK.
cumulative preferred stock
Preferred stock that must pay 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.
noncumulative preferred stock
Preferred stock that does not have to pay dividends that are in arrears. ( Once a periodic dividend is omitted, it will not be paid. - Also termed noncumulative stock.
nonparticipating preferred stock
Preferred stock that does not give the shareholder the right to additional earnings - usu. surplus common-stock dividends - beyond those stated in the preferred contract.
participating preferred stock
See STOCK.
preferred stock
A class of stock giving its holder a preferential claim to dividends and to corporate assets upon liquidation but that usu. carries no voting rights. - Also termed preference shares. Cf. common stock.
prior preferred stock
See STOCK.