| 单词 | Non-cumulative preference share |
| 释义 | 非累積的優先股 A preference share in relation to which a dividend is payable each year, but (as dividends must be paid out of profits) where there is no profit no dividend is payable that year or out of subsequent years profits. Where there are insufficient funds to pay preference shareholders, the right of preference shareholders to take before ordinary shareholders is not carried forward into future years: Halsbury’s Laws of Hong Kong, Vol 6, Companies and Corporations [95.0224]. A company that desires to make preference shares not cumulative should so provide in the articles of association: Staples v Eastman Photographic Materials Co [1896] 2 Ch 303 (CA); Adair v Old Bushmills Distillery Co [1908] WN 24; J I Thornycroft & Co Ltd v Thornycroft (1927) 44 TLR 9. See also Preference share. 每年須支付股息之優先股，但是（因為股息只可自利潤支付）沒有利潤時，則在該年沒有須付股息或在來年的利潤中沒有須付股息。凡沒有足夠資金向股東支付股息者，優先股持有人比普通股持有人的股息優先權並不轉入來年：Halsbury’s Laws of Hong Kong, 第6冊，公司與法團，第[95.0224]段。希望發行非累積優先股的公司，其組織章程應作出規定：Staples v Eastman Photographic Materials Co [1896] 2 Ch 303 (芵國上訴法院)；Adair v Old Bushmills Distillery Co [1908] WN 24；J I Thornycroft & Co Ltd v Thornycroft (1927) 44 TLR 9。另見 Preference share。 |
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