In the case of cumulative preference shares
, any unpaid dividend in one year must be paid next year or years before any other dividend for noncumulative preference shares is paid and before any ordinary shares dividend is paid.
The Malaysian government is offering Malaysia-based Proton Holdings Berhad MYR1.25bn worth of funding by subscribing to new redeemable convertible cumulative preference shares
in the carmaker.
That said, FEC Cables continues to enjoy substantial financial flexibility derived from its parent; in the last 2 years, PNB has stepped in to subscribe for the Company's redeemable cumulative preference shares
and also provided advances to support it."
Regarding the sale of the cumulative preference shares
, representing a stake of 5.2% in Draka, Kempen will approach Prysmian, which offered EUR17.20 per share in cash and stock to buy the cable maker.Country: Netherlands, Sector: Machinery/EngineeringTarget: Draka Holding NVBuyer: Prysmian SpAVendor: Kempen Capital Management NVType: Corporate acquisitionFinancing: Cash & StockStatus: BiddingComment: Kempen Capital to offer Draka shares.
The Royal Bank of Scotland plc (RBS) on Wednesday announced that its directors have declared half-yearly dividends on the 11% and the 5.5% cumulative preference shares