The cumulative preferred stocks are the preferred stocks that all previously unpaid preferred stock dividends must be paid before any dividends may be paid on the common stock.

—累积优先股是这样一种优先股，所有以前未支付的优先股股利必须在普通股股利支付之前支付。

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The cumulative preferred stocks are the preferred stocks that all previously unpaid preferred stock dividends must be paid before any dividends may be paid on the common stock.

累积优先股是这样一种优先股，所有以前未支出的优先股股利必需在通俗股股利支出之前支出。

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Depending upon whether the preferred stock is cumulative or non-cumulative (discussed in M2T1), even preferred shareholders may not be sure of receiving dividend payments on a regular basis.

优先股股东并不确定会收到固定的优先股股息，可能是累积股息或非累积股息。

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Depending upon whether the preferred stock is cumulative or non-cumulative (discussed in M2T1), even preferred shareholders may not be sure of receiving dividend payments on a regular basis.

优先股股东并不确定会收到固定的优先股股息，可能是累积股息或非累积股息。

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