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English definition of “cumulative preference share”

cumulative preference share

noun [C]     ( US cumulative preferred stock)
FINANCE, STOCK MARKET a type of share that gives its owner the right to receive a set amount of money as a dividend . If this money cannot be paid in time , it must be paid later , and before any money is paid to owners of ordinary shares : The holders of cumulative preference shares are entitled to recover the arrears of preference dividend before any dividend is paid on equity shares .
(Definition of cumulative preference share noun from the Cambridge Business English Dictionary © Cambridge University Press)
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