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preferred stock
pre·ferred stock


noun 
Definition:
 
equity stock giving priority to holders: equity stock whose holders are the first to receive dividends from available profit. Preferred stock is redeemed before common stock when a company is liquidated.
Encarta® World English Dictionary [North American Edition] © & (P)2009 Microsoft Corporation. All rights reserved. Developed for Microsoft by Bloomsbury Publishing Plc.
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