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Unformatted text preview: E11-18 2.: IF the shares are cumulative, the preferred stock holders must be paid for the dividends that they did not receive for the past two years before the common stock holders can be paid. The preferred stockholders get priority because they have no voting rights. 3. If the preferred stock is not cumulative [Type the document title] November 7, 2007 P11-2...
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- Fall '07
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