Cumulative dividend a limitation placed upon corporations ensuring the payment of preferred dividends before making distributions to common shareholders.

累积股息对企业的限制，旨在确保公司在向普通股股东派息前支付优先股息。

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The dividend preference carried by most preferred stocks is a cumulative one.

大多数优先股的优先股利具有累积的特点。

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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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Cumulative preferred stock buffers the risk of a skipped dividend payment by allowing past due dividends to accrue.

FORBES: Why Warren Buffett Prefers Preferred Stock