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 foregoing conversion right is subject to the conditions that: (i) if, after March 5, 2018, Manulife determines that there would be less than 1,000,000 Series 11 Preferred Shares outstanding on March 19, 2018, then all remaining Series 11 Preferred Shares will automatically be converted into an equal number of Series 12 Preferred Shares on March 19, 2018, and (ii) alternatively, if, after March 5, 2018, Manulife determines that there would be less than 1,000,000 Series 12 Preferred Shares outstanding on March 19, 2018, then no Series 11 Preferred Shares will be converted into Series 12 Preferred Shares.
Canada's Scotiabank (NYSE: BNS) (TSX: BNS) has said that it has declared dividends on its outstanding shares, common and non-cumulative preferred shares (preferred shares), for the quarter ending October 31, 2017
Because of the potential double tax burden under the Act, however, preferred shares are an expensive--even a last resort--means of raising capital in Canada.
A formal notice of the right to convert Series 5 Preferred Shares into Series 6 Preferred Shares will be sent to the registered holders of the Series 5 Preferred Shares in accordance with the share conditions of the Series 5 Preferred Shares.
Fitch affirms Canada Life Financial Corporation's IDR at 'AA-' and outstanding preferred shares ratings at 'A'.
00 per Preferred Share (the liquidation preference) plus accumulated and unpaid dividends to the redemption date of $0.
The redemption was made pro rata from each Preferred Shareholder based on the respective number of Preferred Shares held by each such holder on the redemption date.
The Fund will redeem 100% (2,050 shares) of its then outstanding Series M Auction Rate Preferred Shares par value $.
10% Series A-1 Cumulative Preferred Shares ("Series A-1 Preferred Shares") and 7.
The conversion of the Series C preferred shares will eliminate the preferred stockholder's right to receive a preferential distribution and cumulative dividend.
The conversion of the Series B preferred shares will eliminate the preferred stockholder's right to receive a Series B preferential distribution and Series B cumulative dividend.
The Series B Convertible Preferred Shares will receive dividends at the rate of 10% per annum, payable quarterly, and be redeemed by the Company on February 1, 2008.

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