Preferred Stock Is Considered to Be Non-Participating When

Preferred stock is considered to be non-participating when:

A) preferred stockholders get their yearly dividend and the remainder goes to common stockholders.
B) preferred stockholders have a right to the current year's dividend, but do not receive holdovers from past years when dividends were not paid.
C) preferred stockholders have a right to a certain dividend every year.
D) None of these answers is correct.