preference share

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preference share

a special type of share in a company, which has the characteristic that it confers an entitlement to a specified percentage rate of dividend that is payable in priority to the claims of ordinary shareholders. A company's share capital maybe split between ordinary shares and preference shares. Ordinary shareholders are entitled to the remaining profits that have been appropriated for the payment of dividends.
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The rationale for maintaining both the TPS rules and the taxable preferred share rules was a concern that financial institutions would build a portfolio of preferred shares that were really disguised loans in order to avail themselves of the $500,000 dividend allowance for taxable preferred shares.
On March 11, 2004, Tax Executives Institute submitted the following letter urging the Canadian Department of Finance to introduce legislation repealing the Term Preferred Share provisions of the Canadian Income Tax Act.
9 was declared on the cumulative redeemable retractable first preferred shares series N in the amount of $1.
75% Series A-4-1 Perpetual Preferred Shares ("Series A-4-1 Preferred Shares") and $7,500 per share on its 6.
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.
Preferred share affirmations include the following:
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 Preferred Shares will only be converted into Common Shares after the Preferred shareholders surrender their preferred share certificates to any of the Company's addresses in Canada, Philippines or the U.
As consideration for receiving fewer common shares than it would have been entitled to, the Company will issue to BG such number of the new preferred shares as will, at the conversion date, give to BG a number of votes equal to 50 per cent of the then issued and outstanding common shares of the Company (as adjusted to account for the conversion shares).
the Company") has issued an additional 75,000 Preferred Shares and 75,000 Class A Shares of the Company for aggregate gross proceeds of $2,175,000.
TORONTO -- Sherman Foundation (the "Foundation") announces that it acquired an aggregate of 331,119 series A preferred shares (the "Shares") of Counsel Corporation ("Counsel"), comprising approximately 2.

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