non-cumulative preferred stock

non-cumulative preferred stock definition - finance
A stock for which, if the board of directors of the company does not declare a dividend for preferred stockholders in a particular year, the company has no obligation to make up a missed dividend in future years.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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