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	Stock - Wikipedia, the free encyclopedia
		Preferred stock, sometimes called preference shares, have priority over common stock in the distribution of dividends and assets.
		However some preferred shares have special voting rights to approve certain extraordinary events (such as the issuance of new shares or the approval of the acquisition of the company) or to elect directors.
		The purchase of one share entitles the owner of that share to literally share in the ownership of the company a fraction of the decision-making power, and potentially a fraction of the profits, which the company may issue as dividends.
	en.wikipedia.org /wiki/Stock (2337 words)

	Preferred stock - Wikipedia, the free encyclopedia
		A preferred stock, also known as a preferred share or simply a preferred, is a share of stock carrying additional rights above and beyond those conferred by common stock.
		Some preferred shares have special voting rights to approve certain extraordinary events (such as the issuance of new shares or the approval of the acquisition of the company) or to elect directors, but most preferred shares provide no voting rights associated with them.
		Preferred shares are more common in private companies, where it is more useful to distinguish between the control of and the economic interest in the company.
	en.wikipedia.org /wiki/Preferred_shares (1012 words)

	Invest FAQ:Stocks:Preferred Shares
		Garden-variety preferred shares are a lot like general obligation bonds/debentures; they are called shares, but carry with them a set dividend, much like the interest on a bond.
		Some preferred shares also carry with them a conversion privilege (and hence may be called "convertible preferred"), normally at a fixed number of shares of common per share of preferred.
		If the value of the common shares into which a preferred share may be converted is low, the preferred will perform price-wise as if it were a bond; that is often the case soon after issue.
	invest-faq.com /articles/stock-preferred.html (924 words)

	Investing in split-share companies and trusts (Site not responding. Last check: 2007-10-31)
		The dividend is eligible for the dividend tax credit and the preferred shares are usually rated Pfd-2, the second-highest ranking for preferred shares from the Dominion Bond Rating Service, comparable to a single-A-rated bond.
		Preferred shareholders are better protected than capital shareholders when the corporation is dissolved, having first dibs on the company's assets; Binder says it's like holding a mortgage on the assets.
		That's why split shares tend to have a five-year life cycle or longer, and shareholders often vote to extend the life of the corporation when it nears the end of the investing term.
	www.bankrate.com /goocan/news/rrsp-rrif/20060606a1can.asp (1159 words)

	A Look at Preferred Stocks
		They're called preferred because they have preference over common shares -- the class of stock that most investors own -- when it comes to the payment of dividends (if cash is running low at the company) and in the case the company has to liquidate.
		Preferred shares pay a dividend that is stipulated and in most cases fixed at the time they're offered to the public.
		Preferred dividends are usually issued quarterly, and if you buy after the ex-dividend data, you may find that you own the shares at the end of the quarter but aren't entitled to receive the dividend, which goes to the former owner.
	www.thestreet.com /pf/funds/jubak/10066587.html (1834 words)

	Fool.com: Investing in Preferred Stocks [Commentary] November 12, 2003
		There are traditional preferred shares, whose dividends are taxed at the new 15% rate, and newer "hybrid" versions, often called "trust preferreds," which are taxed at higher rates.
		Some preferred shares are convertible into cash or common stock -- at the discretion of the investor or the company -- or according to some formula.
		Perhaps the most critical drawback is the fact that preferred shares tend to not appreciate in value as quickly as their common stock counterparts.
	www.fool.com /news/commentary/2003/commentary031112SM.htm (1214 words)

	Types of Preferred Shares
		Preferred shareholders are the senior equity holders in a company and have "preference" in terms of dividend payments and distributions in the case of bankruptcy.
		A "soft-retractable" preferred share is a preferred share that has its retraction value payable in "hard cash" or in an equal value of common stock of the issuer, at the choice of the issuer.
		Preferred shares are way beyond the average investor's bailiwick and there is a steep learning curve for those who want to develop this expertise.
	www.finpipe.com /equity/preftyp.htm (1113 words)

	Preferred Income Opportunity Fund (PFO)
		The preferred securities in which the Fund invests consist principally of fixed rate and adjustable rate securities, some or all of which are expected to be hedged against changes in the general level of interest rates.
		In addition, a Common Stock shareholder whose shares are held in the name of a broker/dealer or nominee may have, depending on the broker/dealer or nominee's participation, all distributions reinvested automatically by the broker/dealer or nominee in additional shares of Common Stock under the plan unless the shareholder elects to receive distributions in cash.
		Due to the outstanding Fund Preferred Shares, the Fund's ability to repurchase shares of, or tender for, its Common Stock may be limited by the asset coverage requirements of the 1940 Act and by asset coverage and other requirements imposed by Moody's as a condition to rating the Fund Preferred Shares.
	www.preferredincome.com /pfo_summary.asp (4385 words)

	Preferred Shares Outstanding
		Preferred shares sit between the creditors and the common share.
		Preferred shares are generally more expensive for a company to issue.
		Preferred shares can be issued with a purchase fund, whereby a company may retire a certain number of preferred shares if they are at or below a prescribed price at a given date.
	www.chartfilter.com /fundamentals/sharesoutstandingpreferred.htm (480 words)

	Consider preferred shares' pros, cons - The Honolulu Advertiser - Hawaii's Newspaper
		A preferred share is technically a stock, representing ownership of a company, but it acts like a bond, said Bill Mann, senior investing editor for The Motley Fool in Alexandria, Va.
		Investors of preferred shares are paid dividends ahead of holders of common stocks.
		Alvarez also doesn't favor preferred shares because selling can be an issue because they're not traded in as large a volume as common stocks.
	the.honoluluadvertiser.com /article/2004/May/13/bz/bz20a.html (731 words)

	preferred shares Definition (Site not responding. Last check: 2007-10-31)
		Also unlike common stock, a preferred share pays a fixed dividend that does not fluctuate, although the company does not have to pay this dividend if it lacks the financial ability to do so.
		The main benefit to owning preferred share is that the investor has a greater claim on the company’s assets than common stockholders.
		Preferred shareholders always receive their dividends first and, in the event the company goes bankrupt, preferred shareholders are paid off before common stockholders.
	www.investorwords.com /5941/preferred_shares.html (287 words)

	Tax changes make dividend-paying preferred shares more attractive (Site not responding. Last check: 2007-10-31)
		Preferred shares now provide higher after-tax returns than high-quality corporate bonds and should definitely be considered for inclusion in taxable portfolios, especially where the investor is seeking to maximize after-tax income, says James Hymas, a preferred share specialist.
		At the same time, however, preferred shares rank ahead of common shares, and if the trouble is temporary, a company would probably suspend its common share dividends before ceasing preferred share dividends.
		Not all preferred shares are as attractive as the Power Financial 5.1 per cent issue.
	www.cbc.ca /cp/Money/060817/J081702U.html (757 words)

	ETFConnect - Education Center - Preferred Shares - Know Your Funds
		Investors may sell their shares, hold their shares at the new rate established by the auction, or hold at rate, which means that shares will continue to be held if the investor's desired rate is at or below the auction rate (or sold if the desired rate is not reached).
		Shareholders may also offer their shares for sale in the secondary market on national exchanges, although the amount received in the secondary market is subject to forces of supply and demand, and may be different than the original amount invested (and may involve a brokerage commission).
		Preferred shares of municipal bond closed-end funds seek yields that compare favorably with other tax-free short-term instruments, or that compare favorably on an after-tax basis with any taxable short-term instruments.
	www.etfconnect.com /education/fundamentals_pref.asp (946 words)

	Fool.com: The Power of Preferred Stocks (Research Feature) April 24, 2001
		Preferred stocks pay dividends, and if the issuer needs cash, dividends can be suspended -- at the discretion of the BOD -- unlike bond interest payments, which must be paid for fear of default.
		Second, preferred shares are often used in mergers and acquisitions because they can be structured as a "guaranty" to the seller.
		Once you've spotted preferred stock, pull up a comfy chair, crack a cold one, and read the preferred stock prospectus (it's probably a 423B prospectus filing).
	www.fool.com /Research/2001/features010424.htm (1107 words)

	Preferred Shares (Site not responding. Last check: 2007-10-31)
		Preferred shares are stock in a company which have a defined dividend, and a prior claim on income to the common stock holder.
		Should a dividend be suspended by the Board of Directors, for what ever reason, the preferred share usually has a cumulative clause in it allowing that any unpaid dividends must be paid fully before any dividends may be declared and paid to holders of common stock.
		Many have equated preferred shares with a form of fixed income security due to its defined dividend stream.
	www.finpipe.com /equity/prefshar.htm (192 words)

	Preferred Stocks
		When analyzing a preferred shares, it's important to understand that their dividends are fixed to the stock's issue price, not to company earnings.
		As a result, preferred shares tend to be much less volatile than common shares -- preferreds don't fall as much when company earnings decline, and they don't rise as much when earnings increase.
		Preferred shares can move sharply higher or lower as a result of a change in the underlying company's credit rating.
	www.streetauthority.com /cmnts/cp/2005/05-08.asp (1456 words)

	Preferred Investors
		Preferred shares are advantageous because they generally offer higher fixed-income payments than bonds or common stocks, the capital outlay to invest in preferred shares is lower than with bonds, and the prices are more stable than those of common stocks.
		Many preferred shares are callable, which means that the issuer has the option to buy back the shares on a certain date, at a price that could be less than the trade price on that date.
		Preferred shares are typically priced at $25 a share initially, though they can be priced higher or lower depending on the issuer.
	businessweek.com /investor/content/may2006/pi20060512_593971.htm?... (1250 words)

	Introduction To Convertible Preferred Shares (Site not responding. Last check: 2007-10-31)
		There is one security, however, that may help solve this dilemma for some investors: convertible preferred shares give the assurance of a fixed rate of return plus the opportunity for capital appreciation.
		These shares are corporate fixed-income securities that the investor can choose to turn into a certain number of shares of the company's common stock after a predetermined time span or on a specific date.
		Convertible preferred shares can be sold on the secondary market, and their market price and behavior is determined by the conversion premium, the difference between the parity value and the value of the preferred shares if they were converted.
	www.investopedia.com /articles/stocks/05/052705.asp (968 words)

	3 preferred stocks I prefer - Jubak's Journal - MSN Money
		Convertible preferred shares can be exchanged for some number of common shares, on a stipulated formula and often within a specific timeframe.
		Since most preferred shares pay a set dividend, as interest rates go up and investors can find higher yields in new issues, the price of existing preferred shares tend to fall.
		has issued preferred shares in a wide variety of flavors so investors should be able to find one that matches the specific needs of any portfolio.
	moneycentral.msn.com /content/P40331.asp?special=msn (2213 words)

	Preferred shares: uncommon values - Oct. 20, 2000
		Preferred stock is a third category, falling between common stock and bonds.
		Preferreds have a stronger claim on company assets than common shares do, making them a safer investment.
		Many preferreds are callable within four years of the date they're issued.
	money.cnn.com /2000/10/20/sivy/sivy (460 words)

	[No title]
		If shares are purchased or sold in the secondary market, purchasers may be required to pay a commission to their financial advisor.
		Preferred stocks which are rated "Aaa" by Moody's are judged to be of best quality.
		at $25,000 per share if the applicable rate for the next rate period is not less than the rate specified in the bid.
	www.adventclaymore.com /amp.aspx (591 words)

	PRESS RELEASE REPEAT: Brookfield Technology Fund Acquires Preferred Shares and Warrants of IPICO Inc. (Site not responding. Last check: 2007-10-31)
		Each preferred share is convertible into one common share, subject to adjustments, and entitles the holder to one vote.
		BTF initially acquired preferred shares and warrants of Amtag ID Inc. pursuant to a private placement completed in March 2006 for an aggregate C$5 million.
		All but 500,000 preferred shares and 500,000 warrants are currently escrowed under the terms of an escrow agreement dated March 31, 2006 with CIBC Mellon Trust Company as escrow agent.
	www.marketwire.com /mw/release_html_b1?release_id=131710 (332 words)

	Offshore Preferred Shares
		Shares representing the investment will be issued in "book entry" format only, with the Issuer issuing the confirmation to the Investor.
		The value of the Shares will be based on the value of underlying shares invested in offshore funds, the Units, less a per diem administrative fee.
		Proceeds from the sale of the Shares will be deposited into a segregated account to be held until used for the purchase of Units.
	www.ins.state.ny.us /ogco2002/rg021101.htm (838 words)

	Preferred Stock (Site not responding. Last check: 2007-10-31)
		Preferred stock generally has a dividend that must be paid out before dividends to common stockholders and the shares usually do not have voting rights.
		However, the best way to think of preferred stock is as a financial instrument that has characteristics of both debt (fixed dividends) and equity (potential appreciation).
		Preferred shareholders have priority over common stockholders on earnings and assets in the event of liquidation and they have a fixed dividend (paid before common stockholders), but investors must weigh these positives against the negatives, including giving up their voting rights and less potential for appreciation.
	www.investopedia.com /terms/p/preferredstock.asp (287 words)

	CALAMOS INVESTMENTS Raises More Than $1 Billion in Preferred Shares for the CALAMOS Strategic Total Return Fund (CSQ) : ... (Site not responding. Last check: 2007-10-31)
		With the addition of the preferred shares to the proceeds from the Fund's initial public offering in March, the Fund raised approximately $3.4 billion in total assets, excluding sales load and other offering expenses.
		The preferred shares will be rated "AAA" by Standard and Poor's, a division of The McGraw-Hill Companies Inc., and "AAA" by Fitch Inc. The managing underwriters for the preferred shares were Citigroup Global Markets Inc.; Merrill Lynch; Pierce, Fenner and Smith Incorporated; and UBS Securities LLC.
		Shares of closed-end funds frequently trade at a market price that is below their net asset value.
	press.arrivenet.com /business/article.php/342465.html (787 words)

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