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Unformatted text preview: dend preference – preferred shareholders receive dividends on their shares before common shareholders do. Liquidation preference –preferred shareholders receive payment in full before common shareholders in liquidation. Preferred Stock Privileges Preferred Stock Privileges 1. 2. Conversion privileges – a conversion privilege allows preferred stockholders to convert their shares into common shares at a predetermined conversion ratio. Participation feature –allows preferred shareholders to share ratably with common stockholders in dividends. Fortune Brands’ Fortune Brands’ Convertible Preferred Stock Fortune Brands’ Convertible Fortune Brands’ Co...
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