Just call us Bond. Amortized bond.
Over 700 finance terms, Shmooped to perfection.
Non-Cumulative Preferred Stock
Preferred stock that does not require the issuer to pay any missed dividends before it pays dividends to the common stockholders. Definitely not the best investment, because the company is basically saying, "Yeah, here's a juicy 10% dividend, but if we decide it's not in our best interest to pay you, too bad."