A preferred stock whose annual fixed-rate dividend, if it cannot be paid in any year, accrues until it can and is paid before common dividends.
- Shares could also be issued, for example cumulative preference shares with a dividend calculated to reflect the amount of interest and principal received.
- According to the notice, the redeemable cumulative preference shares are redeemable not later than 20 years from the date of allotment.
- The nominal value of each cumulative preference share changed to 0.12 Euros.
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