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Section: 3 Common and Preferred Shares
As discussed before, an ordinary shareholder is the true owner of the company and
has ownership rights. Preference shares carry the features of both ordinary share
and interest bearing debt. Preference shareholders are entitled to a fixed percentage
dividend before any dividend is paid to the ordinary shareholders. As with ordinary
shares, preference share dividend can only be paid if sufficient distributable
profits are available. However, Cumulative Preference Shares have the right to
carry forward the unpaid dividend to later years. Preference shareholders are
not considered as the owners of the company and do not have the right to vote
or to appoint directors.
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Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia